(The following editorial appeared on the Newsday website on March 3.)
NEW YORK — The Metropolitan Transportation Authority announced its new five-year capital maintenance and construction plan last week, and the numbers are staggering. But even at an increase of 39 percent over the previous plan, this is one investment New York should make.
The MTA’s timing is pretty bad, given the tight state budget. But the goals of the 2008-2013 capital plan are sound. They would keep New York building through what looks like an impending recession, even as private developers put their plans on hold. And that would translate into jobs.
MTA chief Elliot Sander has written his first capital plan like a car wash menu. Basic core service costs $20.1 billion. This includes much-needed investment in a state of good repair, as well as $450 million for the controversial but necessary third track of the Long Island Rail Road. Including this project at the core level demonstrates the MTA’s strong commitment to overcoming the political hurdles.
Add white-wall cleaner, and the budget jumps to $26.3 billion to complete current construction projects, including $3.1 billion to finish LIRR access to Grand Central Terminal. The Pataki administration front-loaded federal money into the start of that project and left others to finish it.
A third tier adds new projects, notably a congestion pricing system, for a total of $29.6 billion. Congestion pricing fees would contribute an estimated $4.5 billion.
The state needs some creative thinking to close the projected funding gap. When the 2005-2009 plan was presented with a similar $9 billion shortfall, officials raised gas and sales taxes, and voters approved more state debt through a bond act.
One of the worst ideas would be to raise MTA fares and tolls yet again. A Newsday study shows that public transportation saves commuters between 96 cents and $2.52 per day, versus driving a car (although the comparison didn’t include parking costs). The MTA will give people more incentive to drive if fares keep rising.
Greater New York needs to invest in its subways, rails and buses to remain a world-class region. Let’s be sure to invest wisely.