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11/21/2025
The New York Metropolitan Transportation Authority (MTA) this week released its final 2026 operating budget and four-year financial plan, which eliminates $418 million in budget deficits over the next four years through operating efficiencies.
The deficit reductions are mainly driven by MTA's cost savings, which will total $675 million in 2026 and reach more than $2 billion through 2029, MTA officials said in a press release.
MTA has reduced its costs by transitioning its fare collection to a tap-and-ride contactless payment system and optimizing its train crew schedules. Additionally, the deployment of new, more reliable rolling stock has reduced maintenance costs, they said.
In 2021, the MTA was authorized to borrow federal and state funding to keep services running while addressing cost-saving measures. Since then, the authority has reduced what was an anticipated $2.5 billion annual budget deficit in 2021 to $160 million projected for 2027, $243 million in 2028 and $306 million in 2029.
The MTA's final 2026 budget and four-year financial plan can be downloaded here.