by Nicole Gelinas
September 11, 2013
New York City mass transit has enjoyed a golden age for the past 30 years. In the 1990s New York started preparing to build its first new line since 1932. In 2008, New York saw more blasting, tunneling, and concrete-pouring than in the previous eight decades. You might suppose that the city’s next mayor would reap the political benefits. But well before then, the mayor could confront a fiscal derailment. The system that New York has used to fund transit investments during this golden age—debt backed by ever-increasing tax and toll revenues—is about to break. It’s imperative to cut labor costs and invest some of the savings in transit, focus on keeping existing infrastructure in good condition, not on building new infrastructure, and build elevated bus ways on major highways to speed up commutes and airport trips.