New York City’s transit network, the largest in the US, expects to shrink operating budget deficits by $418 million over three years by cutting expenses and with a potential rebound in real estate tax collections.
The state-run Metropolitan Transportation Authority operates the city’s subways, buses and commuter rail lines. It anticipates finding a combined $675 million of cost savings in the next four years in addition to the planned $500 million of yearly spending reductions the MTA is required to achieve, according to a budget update the agency released Wednesday at its monthly board meeting.
MTA officials also expect real-estate ...
