MTA to receive another $298M in coronavirus funds, Trump says
The MTA is receiving a $298 million installment of its promised federal coronavirus rescue funds, according to President Trump.
“Another $298M heading to @MTA, adding up to over $2B in federal funding from @USDOT so far, part of the $3.9B total from the CARES Act,” Trump tweeted Thursday evening.
“This is critical to keeping essential personnel moving and aiding metro NYC in recovery. We are here for the people of New York!”
New York’s transit agencies, like many across the country, face massive shortfalls thanks to drops in ridership and tax revenue during the coronavirus pandemic.
The March CARES Act passed by Congress allocated $25 billion for mass transit agencies across the country.
The MTA, which accounts for almost 40 percent of nationwide transit ridership, has been promised $3.9 billion of the pot.
The $298 million installment announced by Trump on Thursday represents the federal government’s latest reimbursement for recent transit expenses, an MTA source said.
Trump previously tweeted that New York officials should “spend wisely” the first $500 million batch of funds, which he announced May 14 was coming.
MTA officials say their agency needs another $8.9 billion from the feds to get through the end of 2021.
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