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Q&A
Federal funding for MTA's 2025-2029 Capital Plan
0:45:11
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Council Member Brooks-Powers inquires about the security of $14 billion in federal funding for the MTA's 2025-2029 Capital Plan. John McCarthy from the MTA explains that most of the funding comes through a formula, with the MTA receiving a large percentage due to its size. He expresses confidence in securing the formula money but notes concerns about discretionary grants.
- The MTA moves over 40% of transit users in the United States
- Formula funding is considered more secure than discretionary grants
- The MTA plans to closely monitor and fight for federal funding
Selvena N. Brooks-Powers
0:45:11
Thank you.
0:45:11
Part of the 2529 capital plan is funded with 14,000,000,000 in federal funding.
0:45:18
With the recent priority shift by the presidential administration, how is the MTA making sure these funds are secured?
John McCarthy
0:45:28
I'll jump in.
0:45:30
Chair, you know, good question.
0:45:31
It's obviously front of mind for us and so many New Yorkers.
0:45:35
The good news is that the way federal funding comes through is generally through a formula.
0:45:43
So we are such a large percentage of transit in The United States.
0:45:49
We move more people than anyone else certainly, and probably over 40%.
0:45:53
We don't get nearly as much funding.
0:45:55
There's lot of money going to Washington that doesn't make its way back.
0:45:57
So we're already at a disadvantage.
0:45:59
We'll fight like hell to make sure that we get the federal formula money.
0:46:03
The discretionary grants is where we're most concerned.
0:46:06
We're watching that very closely.
0:46:08
These are sort of funds that go to projects that are identified that would be eligible for certain discretionary funds.
0:46:16
So that's in that $14,000,000,000 but the big chunk is formula money.
0:46:21
So if that gets reduced, it's getting reduced elsewhere.
0:46:24
We're we're gonna be very, very, we're gonna watch that very closely to make sure that that dollar those dollars come back to New York.