The MBTA’s Chief Finance Officer and transit advocates are in agreement: the T will need a major, sustained infusion of state funds within the next two years to avoid major service cuts, and the higher-than-expected “Fair Share” transportation funding that rescued the T’s budget last year won’t be enough.
Last week, the T’s budget chief, Mary Ann O’Hara, delivered her first budget presentation of the year to the MBTA’s Board of Directors.
O’Hara revealed that the T expects to end the current fiscal year (ending June 30th) with a $239 million deficit, which it will cover with its reserve funds.
Worse, that deficit is expected to bloat to $648 million next year, and $837 million by 2028, barring any major changes to state budget policies.
MassBudget Reference:
On Wednesday, Transportation for Massachusetts (T4MA), a statewide coalition of transportation advocacy groups, issued a joint report with MassBudget that came to similar conclusions.
“The Commonwealth will not be able to count on stepped-up federal support, and we are not dedicating sufficient resources to meet the transportation challenges ahead,” the organizations warn.
—-
In their new funding report, T4Mass and MassBudget argue that “there is no shortage of solutions. The issue is more of political will.”
Those organizations noted that Governor Healey could, without any legislative action necessary, adjust highway tolls and Registry of Motor Vehicle fees to account for inflation and raise a considerable amount of new revenue.
