For Immediate Release

Albany lawmakers reach deal to rescue MTA

May 6, 2009 5:16 PM

Governor Paterson and the state Legislature reached an agreement on the night of May 5 on a deal to rescue the financially strapped MTA. The plan will raise fares an average 10 percent and will avoid service cuts and layoffs while also addressing the agency’s funding needs for the first two years of its capital plan.

UFT President Randi Weingarten responded with the following statement:

We are very pleased that the Legislature and Governor Paterson have reached a resolution on the MTA financial crisis that will avert steep fare increases and Draconian service cuts while addressing the system’s needs for maintenance, repairs and upgrades for at least the first two years of its capital program. Governor Paterson, Assembly Speaker Silver, Senate Majority Leader Smith and former MTA Chairman Dick Ravitch deserve special recognition for their leadership in bringing all stakeholders together to find a viable solution to a very daunting challenge during these tough economic times.