Half of our revenue comes from our riders in the form of farebox revenue and tolls. Various dedicated fees and taxes from both the state and local governments help fund the rest of our operations.
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For the last 40 years, the MTA has taken out loans to help pay for new tracks, stations, trains and buses — and maintain the ones it already owns. Money from fares, tolls and taxes pays back the lenders, plus interest. That business model worked until the pandemic sent ridership plummeting.
The subway is owned by the city of New York and leased to the New York Transit Authority. It is one of the oldest subway systems and one of the largest in the world, with about 472 stations in operation.
The report also found that the MTA lost $690 million to fare evasion in 2022. Joana Flores, an MTA spokesperson, said the AI system doesn't flag fare evaders to New York police, but she declined to comment on whether that policy could change.
Most trains on the New York City Subway are manually operated. As of 2022, the system currently uses Automatic Block Signaling, with fixed wayside signals and automatic train stops. Many portions of the signaling system were installed between the 1930s and 1960s.
New York's Metropolitan Transportation Authority is buried under a $48 billion mountain of debt — and paying it off threatens to undermine the agency's core function: running mass transit for more than 5 million people a day.
Losses to the MTA's operating budget are staggering, with nearly $700 million in revenue not collected in 2022 alone. This includes $315 million lost in bus fares, $285 million in subway fares, $46 million in bridge and tunnel tolls, and $44 million in railroad fares.
A variety of factors drive MTA's cost structure, including the age and size of the system, 24/7 operation, and the difficulty maintaining so many different — and older — models of train cars and other equipment, said MTA Communications Director Tim Minton.
Over the past five years, 4,592 MTA injury cases have been resolved, forcing the Metropolitan Transportation Authority payouts of over $431 Million in MTA lawsuit settlements.
Transit workers will receive raises of 3% in the contract's first year, 3% in the second year and 3.5% in the third and final year. The bonus comes after the union demanded hazard pay from the worst of the COVID-19 pandemic. The MTA branded the one-time bump as an “essential worker” bonus.
O has never been used due to its visual similarity to the number 0. P was planned for the service operating on the final leg of the BMT Culver Line before it was downgraded to a shuttle.
The original IRT line opened in 1904, and 116 Street - Columbia University (now a 1 train stop) was part of the first wave of stations that ran from City Hall to 145th Street at Broadway.