The New York City Underground Metropolitan Transit Authority (MTA) used 2.9 billion in March Funding from the Federal Care Act Which represents about 733% of the money but is expected to finish the rest of the funding by early July.
“MTA is facing the most severe financial crisis in its history,” MTA Chief Financial Officer Bob Foran said in a press release.
He continued: “With more than 0 per cent of the funding provided for care provided in the first relief package and all care funds are expected to be exhausted by early next month, our financial life is in support.”
He called on the Congress to work for the protection of the MTA
“We now need to take Senate action and follow the lead of the House of Representatives in continuing epidemic financing. The MTA is New York’s lifeblood and the country’s economy – our financial health will be critical to the country’s economic recovery,” he said.
“New York is also the country’s top donor with লার 29 billion more than the return from the federal government,” Foran added.
“We urge the Senate to return to Washington, to do its job, and to provide the MTA with another ৯ 3.9 billion for the remainder of 2020.”
Latest Rideship Number: The MTA said more than 2 million people boarded the New York City subway and buses on Friday, the first time drivers had reached this stage since the Covid-19 epidemic began in March.
MTA added, although it is a significant increase in ridership, it is a 74 million decrease from ridership levels on normal weekdays, MTA added.