At a public hearing on Monday afternoon, M.T.A. officials proposed a new set of amendments (PDF) to the struggling agency’s capital program for 2005-09.
"I certainly believe that riders should be concerned about what we’re looking at," M.T.A. Executive Director Elliot Sander said.
So far in 2008, the M.T.A. has been hit with rising operating costs (mostly due to high fuel prices) and decreased revenue from falling real estate taxes. Several of the projects under the M.T.A.’s capital program –which is already $15 to $20 billion short in funds–are getting more expensive, too.
Mr. Sander could not say definitively whether the M.T.A. would have to impose fare and toll hikes and/or make service cuts until Albany comes down on the issue. The jury is still out on the Ravitch Commission, which Mr. Sander said he has "faith in."