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MTA Announces Congestion Pricing Is Key to $30 Billion Plan

Submitted by Michelle Subbiondo on Thu, 2008-02-28 14:35.

The Metropolitan Transit Authority released its $29.6 billion five-year capital plan, on Wednesday, at the request of the State Legislature who requested it a year earlier than expected in order to consider the new congestion pricing plan before them. 

According to The Journal News , the MTA's plan is contingent upon the projected $4.5 billion that would be raised by congestion pricing.  The plan includes the purchase of buses, subway cars and trains, and the renovation of several stations including a complete overhaul of the Tarrytown train station.  It also includes a project bringing the Long Island Railroad to a station to be built at Grand Central Terminal.  However, the MTA has announced this project will cost more and take longer than previously estimated.  This announcement, coupled with the $9 billion the agency has yet to account for, has caused many to attack the plan.

The MTA board is expected to vote on a final capital plan at the end of March.


 

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