TITLE

Despite New Revenue, MTA in Tight Spot

AUTHOR(S)
Phillips, Ted
PUB. DATE
May 2009
SOURCE
Bond Buyer;5/11/2009, Vol. 368 Issue 33112, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
40522029

 

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