It proposes investing $51.5 billion into the region’s subways, buses and railroads over the next five years to build on the progress of the Subway Action Plan and create a faster, more accessible, and more reliable public transportation system.
The proposed level of investment is by far the highest in the MTA’s history, increasing spending on infrastructure by 70 percent over current levels, which were already the highest ever.
The program plans to invest more than $40 billion in New York City Transit’s subways and buses alone, as well as major investment in the Long Island Railroad and Metro-North.
“This is the most ambitious capital plan in the agency’s history, and with the reorganization that is underway, we’re certain we can deliver for our customers,” said MTA chairman and CEO Patrick Foye.
As for New York City subways, $37.3 billion will be used to modernize the system by adding capacity, increasing reliability, and accelerating accessibility.
“These proposed investments in our subways and buses have delivered beyond my wildest expectations,” said New York City Transit President Andy Byford. “The system has been stabilized and this capital plan offers us an extraordinary opportunity to now modernize it and provide world-class transit options to New Yorkers in an unprecedented time frame.”
An additional $3.5 billion will fund more than 2,400 new buses, depot improvements and customer experience upgrades, including on-board digital information screens to provide real-time service information.
It accelerates the transition to a fleet composed fully of zero-emissions electric buses.
The single largest source of funds for the plan – $25 billion – comes from bonds backed by new revenue streams authorized in this year’s state budget, including $15 billion from congestion pricing.
Advocates for better mass transit were optimistic about the news.
"Governor Cuomo has made big promises to modernize the transit system, and this upcoming capital program is the first big test of whether he is serious about following through,” said John Raskin, executive director of the Riders Alliance. “If all of this work happens as proposed, the transit system will truly be on the road to repair.
"Truly fixing the transit system will require years of work and ongoing dedication from the governor and members of the legislature,” he added. “The release of a draft capital plan is just one step on that path, but it's an important step and we're heading in the right direction."