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| Re: Some Subways Found Packed Past Capacity (452166) | |||
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Re: Some Subways Found Packed Past Capacity |
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Posted by Stephen Bauman on Tue Jun 26 17:40:00 2007, in response to Re: Some Subways Found Packed Past Capacity, posted by WillD on Tue Jun 26 15:53:15 2007. I hold no illusions as to the ability of the congestion charge to actually fund any of the neccesary improvements, but rather it can act as a key to get the funding to get them built.Actually, the reverse is true. Anytime, the transit system has shown some sign of getting its own income stream, it has been taken as a sign by government to reduce its spending or other governments have tapped the pipeline. NYC reduced its capital contribution under Guiliani, when the TA unexpectedly generated cash-on-cash surpluses. The state's capital contribution dropped, when they discovered that the MTA could float its own bonds guaranteed by the farebox. The increase of tolls on the TBTA facilities was supposed to provide a sustainable stream to augment subway farebox receipts. That surplus is now shared 50-50 with the commuter railroads. A similar story is already under way with congestion pricing. The NYS Senate Republicans see congestion as a way to free the state from spending hundreds of millions of dollars for mass transit. The county executives from the suburban counties are looking at NYC's congestion pricing program to fund their own mass transit initiatives. They have indicated this as their reason for their support of Bloomberg's program. |
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