MTA wants to overhaul transit system at $54 billion

NEW YORK (FOX 5 NY) - Modernizing subway signals, adding 70 new elevators to improve accessibility, installing  more than 1,900 new subway cars, 500 electric buses and extending the 2nd Ave. line by 2024: these are just some promises the MTA is making in its new capital plan to overhaul New York’s crumbling transit system.

“I’m ecstatically happy, this could not be better this plan I think exceeds my wildest expectations,” said Andy Byford, NYCTA President, “it addresses re-signaling, check, we talked about making the subway fully accessible, check, we talked about reimagining and transforming bus service, check.”

Now comes the tricky part: convincing state, city and federal leaders to pay for it.

The Transit Authority’s blueprint costs a whopping $54 billion. That’s $20 billion more than the last capital plan.

The agency expects to pull in about $25 billion from congestion pricing: tolling cars in the busiest parts of Manhattan is set to start next year.

Pat Foye, MTA Chairman, says they need $3 billion from the de Blasio administration with  the funding gaps to be filled by the federal government.

The Trump administration has not committed to any funding, but the President did recently tweet that he supported the project.

“These are reasonable numbers and these are projects, frankly of national significance,” said Foye.

Officials say systemic changes are already underway and have shown results. 

"The 7 line, we added 43% punctuality in one month since we switched on the ATO- the automatic train operation- which allows trains to run closely together,” Byford pointed out.

Gov. Cuomo sounded optimistic about the plan saying it, “builds on the progress... and make crucial upgrades so riders get the 21st century transit system they deserve.”

But there is good reason for skepticism about the 5-year proposed timeline.

Nicole Galenis of the Manhattan Institute tweeted, “five years is aggressive. The MTA has not proven that it can do this.”