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Riders Thankful for a Budget that Fully Funds Transit!

“We’re grateful that the FY24 state budget deal appears to fully fund the MTA now and into the future. It’s a win for riders and the region. As we await more details, it’s clear that an increase in the Payroll Mobility Tax for New York City’s largest businesses— projected to raise over $1 billion annually— and an additional $165 million annual contribution from the city, combined with internal MTA efficiencies and what appears to be a moderate fare increase, will provide the dedicated, recurring revenue the MTA needs to fill its budget gap and keep it fiscally whole.

“Our top priority is a fully funded transit system that continues to provide reliable and affordable service for riders around the region, including on the subway, bus, Staten Island Rail, Metro-North and the LIRR. The MTA is the backbone of our entire region’s economy, and it should ultimately be up to the entire region to fund transit in exchange for the access to jobs, education, opportunities, and contributions to local economies that transit provides from Montauk to Wassaic.

“We look forward to seeing more details as the full budget bills are released and thank Governor Hochul, Speaker Heastie, and Majority Leader Stewart-Cousins for coming to an agreement that will support transit and its millions of riders this year and into the future.”