The real price of a better MBTA

The state can either commit more money to the struggling MBTA before year's end or risk the agency's momentum in hiring and fixing unsafe routes, according to a new study of the T's dire finances.

Why it matters: The MBTA's subway, streetcars, buses and commuter trains are the engine that propels Boston's workforce, the anchor of the entire New England economy — and the agency is headed for a fiscal collapse, according to the Massachusetts Taxpayers Foundation.

• The T needs over $700 million in the 2026 fiscal year to balance its budget and maintain current service levels, the MTF's report says.

State of play: The T is under federal orders to run the system more safely, which means operating with more employees overseeing things.

• A larger headcount and more-reliable, safer trains are more expensive.

Threat level: Without more money, MBTA managers could be forced to cut service or freeze the hiring boom that's getting the system back up to speed.

• Speed restrictions have plagued riders as the T tries to run trains safely without enough staff.

What they're saying: "Employers, commuters, and the larger economy pay the price of a failed transit system. And that is what we will have if we do not maintain and build on the progress that has been made in increasing operational staff," MTF president Doug Howgate said.

The bottom line: The report recommends lawmakers commit to higher spending levels for the MBTA by the end of the year to avoid a hiring freeze or a halt to the progress the T's already made.

Reality check: Budget-making on Beacon Hill is even slower than the trains and final decisions about fiscal year 2026 likely won't be made until next June.

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