The Metropolitan Transit Authority is feeling the heat as it deals with projected budget deficits and a December deadline for passing a balanced budget for next year. The MTA is now expected to face a $1.2 billion budget deficit in 2009, $300 million more than it had projected in July.

Tolls on the East River crossings, like the Queensboro Bridge, could bring in $1 billion annually.According to the New York Times, the deficit was caused by the collapse of revenues from real estate and corporate taxes - while the authority collected $1.6 billion in real estate transaction taxes in 2007, this is year it is on track to collect only $995 million in such taxes, and only $895 million in 2009.

A commission created by Gov. David Paterson and headed by former MTA Chairman Richard Ravitch is looking into options for bridging the MTA's financial gap. The commission is contemplating charging tolls on the four bridges that enter New York City from the East River (the Brooklyn, Manhattan, Queensboro, and Williamsburg Bridges). According to the Daily News, half a million cars and buses cross these bridges every day, meaning a potential $1 billion could be raised this way.

Mayor Michael Bloomberg's congestion pricing plan, which the Legislature sidestepped earlier this year, is also rumored to be back in consideration.

A final decision on the plans will not be reached until the Ravitch Commission makes its report on Dec. 5 and Gov. Paterson releases the state executive budget on Dec. 16. The toll proposal would also have to be approved by both City Hall and the state government.