Sen. Charles Schumer and Rep. Jerrold Nadler are touting the stimulus package Congressional leaders and President-elect Barack Obama’s transition team is drafting as a boon to the state’s fiscal woes. Facing a historic budget gap in the state and MTA budgets, the federal legislators said they are pushing to have at least $20 billion of new funding devoted to investing in the country’s mass transit systems. That money would help keep the MTA from implementing a draconian budget that severely cuts service and raises fares. The $1.2 billion budget gap at the MTA puts long-term capital projects, including the Second Avenue subway, at risk of being shelved.
“This stimulus could be a life-saver for New York’s mass transit system,” Nadler said in a statement. “Federal stimulus funds are absolutely critical.”
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