The revenue raised from congestion pricing, internet sales tax and marijuana legalization could bring $22 billion in bonds for MTA transit investments, according to the governor’s office. Much of that money could help support the authority’s next five-year capital plan for 2020 to 2024, which has been estimated to cost around $60 billion. New tolls for congestion pricing would be installed by the end of 2020.
The plan’s proposal for reforming the authority hinges on restructuring its bureaucracy. The joint plan would be carried out by June to consolidate many aspects of the MTA’s six separate entities that handle different services, including local subway and buses, the Long Island Rail Road and Metro-North.
“The antiquated structure will be fundamentally changed to centralize common functions among the six existing entities,” the proposal said.