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WATCH LIVE: MTA holding special board meeting to review dire finances

MTA Chief Development Officer Janno Lieber and Chair Pat Foye at a Nov. 12, 2019 hearing. (Photo: Mark Hallum/amNewYork)

 

The Metropolitan Transportation Authority expects Wednesday’s monthly board meeting to be an extra special occasion, though the precise facts to be revealed by agency leaders is still under wraps.

Topics to be discussed are the ongoing COVID-19 crisis that has pressed the need for $12 billion to cover operating costs for 2020 alone, both were covered extensively in a Tuesday joint hearing between members of the state senate and legislature. It will also represent yet another month without help from the federal government, something which has not beed seen since April when the CARES Act was passed.

During the July meeting, the MTA showed the public that deficits had begun to soar with operating funds not being collected through fares and tolls during the height of the pandemic. By 2024, the agency says they could be trying to resolved a $16 billion deficit and thus far in the pandemic their credit rating has been downgraded four times.

The broadcast is expected to begin at 10 a.m.

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