The Metropolitan Transit Authority (MTA), which operates the New York metro system, used $ 2.9 billion in March. Funding from the Federal CARES Act This represents about 73% of the money, but expects the remaining funds to be consumed in early July.
“The MTA is facing the most acute financial crisis in its history,” said Bob Foran, MTA Chief Financial Officer in the press release.
He continued: “Over 70% of CARES financing provided in the first aid package and financing of all CARES funds expected to run out early next month are life support.”
Calls on Congress to protect MTA
“We need the Senate to take action now and to follow the leadership of the House of Representatives in continuous epidemic financing. Because MTA is the lifeblood of New York and the country’s economy – our financial health will be critical to the country’s economic recovery,” I said.
“New York is also the nation’s largest donor state, which provides $ 29 billion more than we received from the federal government,” said Foran.
“We call on the Senate to return to Washington, do its job, and now provide MTA with a $ 3.9 billion fund to cover the rest of 2020.”
Latest equestrian numbers: MTA said that more than 2 million people got on the New York City subways and buses on Friday, and that this was the first time since riding started the Covid-19 pandemic in March.
MTA noted that while there was a significant increase in riding, there was a 74% drop from the normal weekly 7.6 million horse riding level.