Despite New Revenue, MTA in Tight Spot

Phillips, Ted
May 2009
Bond Buyer;5/11/2009, Vol. 368 Issue 33112, p1
Trade Publication
The article reports on the tightening in New York's Metropolitan Transportation Authority (MTA) despite of a newly approved legislation that will provide a new payroll tax and mandate other fees to fund the needs of the authority. Although MTA gets new sources of revenue, it must still deal with a huge debt burden, escalating debt service and pension obligations, and still-unfunded capital projects. In addition, the recession has also slashed MTA's share of real estate transfer taxes.


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