May 2, 2023
SFY 2023-24 Enacted Budget Makes Critical Investments in the MTA and Statewide Infrastructure Improvements
Budget includes $15 million for a zero-fare bus pilot program in every borough in New York City
Speaker Heastie, Transportation Committee Chair William B. Magnarelli and Corporations, Authorities and Commissions Committee Chair Kenneth Zebrowski today announced that the Enacted State Fiscal Year (SFY) 2023-24 includes critical investments to the Metropolitan Transportation Authority (MTA), as well as funding for transit systems and transportation infrastructure across the state.
“New York has one of the hardest working transportation systems in the world and we are committed to making it safe and reliable for everyone who comes here to live, work and visit,” Speaker Heastie said. “The funding in this year’s budget will help maintain and improve roads and bridges across the state, and help bring financial stability to the MTA.”
“We must continue to invest in our roads, bridges and transportation infrastructure across New York State,” Assemblymember Magnarelli said. “Programs like CHIPS and the State Touring Route Program maintain the highways, byways and local roads that we rely on every day to get where we need to be. The Assembly Majority will continue working to maintain and improve our transportation infrastructure.”
“Investing in the MTA is an investment in our state’s economic engine and in the lives and livelihoods of millions of New Yorkers that rely on it every day,” Assemblymember Zebrowski said. “This budget will fund the MTA in a sustainable way and help ensure that our communities have reliable transportation.”
The budget supports the financial stability of the MTA by adjusting the Payroll Mobility Tax for the largest businesses within New York City to 0.6 percent, which will generate approximately $1.1 billion. The budget also includes:
- $300 million in one-time state aid for the MTA;
- A requirement that New York City contribute $165 million for paratransit services;
- $65 million to reduce a proposed fare increase on the MTA from 5.5 percent to four percent; and
- $35 million to expand subway service frequency enhancements.
The SFY 2023-24 budget also includes $15 million to fund a zero-fare bus pilot program that will provide each of the five New York City boroughs with a free bus route.
The spending plan makes critical investments in New York State’s infrastructure, including funding the second year of the five-year state Department of Transportation capital plan at $5.5 billion for roads, bridges, rail, aviation and non-MTA transit systems. This includes an additional $100 million for local road capital, $60 million of which is allocated for the Consolidated Local Street and Highway Improvement Program (CHIPs) and $40 million for the State Touring Routes program. Also included in the budget is $829.2 million in operating assistance for upstate and downstate non-MTA public transit systems.