Mar
20
Senate sticks MTA rescue plan on the backburner
BySenate Majority Leader Malcolm Smith is so confident in his belief that the MTA’s self-imposed March 25th deadline is a flexible one that he is prepared to blow right past it. As the Assembly supports a modified Ravitch Plan and the Senate supports its own fatally flawed bailout plan, Smith is turning his attention to the state’s looming budget deadline. The MTA will now take a backseat to the April 1 New York State budget deadline. This all but assures an approval of the Doomsday budget on Wednesday. Fare hikes and service cuts could go into effect as early as June.
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[...] At 11:45 a.m., the MTA’s Finance Committee will meet to approve recommendations for a fare hike and service cuts in an effort to close a budget gap in excess of $1.2 billion. While Richard Ravitch had proposed a plan that, through East River bridge tolls and an equitable payroll tax, would minimized the hike and cuts, a bitterly divided Senate could reach an agreement, and while Sheldon Silver’s Assembly was prepared to pass a modified Ravitch Plan, the Senate has tabled any MTA rescue package for now. [...]
Well, that’s exactly what needs to happen to get people’s attention. Everyone thinks the MTA is crying “Wolf” but we shall see.