The state's chief financial inspector is warning that the MTA may require more repair and construction projects than its budget allows.

MTA.Photo byScott RodgersononUnsplash

The MTA's next five-year capital plan is expected to be announced this month, and in a study released on Thursday, state comptroller Thomas DiNapoli estimated that it may cost up to $92.2 billion.

Furthermore, the agency's present capital plan has a $15 billion gap as a result of Governor Kathy Hochul's decision to suspend congestion pricing.

The 5-Year Capital Plan By MTA

Every five years, the MTA releases capital plans that include a long list of construction projects aimed at either expanding service or maintaining the agency's mass transit infrastructure.

The next plan is scheduled for 2025 to 2029. This project includes funds for several subway accessibility upgrades, an extension of Penn Station, and the proposed Interborough Express light rail line between Brooklyn and Queens. It might include new, modern buses and a new batch of subway cars to replace the system's 50-year-old trains.

Prioritizing Maintenance Projects

According to the research, the capital plan might only end up costing $57.8 billion. It also recommended that the MTA prioritize maintenance projects that keep the current transport system running rather than building new lines like the Interborough Express to save money.

Originally slated to cost $51.5 billion when it was first unveiled in 2019, the MTA's current capital plan, which spans 2020 through 2024, has now increased to $54.8 billion.

DiNapoli noted that in addition to figuring out how to finance the plan, state legislators also need to find out how to close the gap left by Hochul's congestion pricing delay in the present one.