![]() In addition to federal aid and the MLF, the MTA also used $1.4 billion in one-time fund diversions to balance its budget. Since July 2020, near-term budget gaps have been closed with $14.5 billion in federal aid and $2.9 billion in operating debt secured thought the Municipal Liquidity Facility (MLF) of the Federal Reserve Board. 1 In response, the federal government has provided the MTA with significant support. ![]() COVID-19 likely will cost the MTA as much as $25 billion over the 2020-2024 period in pandemic-related spending and lower revenues from fares, tolls, dedicated taxes and subsidies. The COVID-19 pandemic and consequent recession have severely worsened the Metropolitan Transportation Authority’s (MTA) already precarious financial outlook.
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