New York MTA faces massive debt without additional aid
New York’s Metropolitan Transportation Authority could see its total debt reach $50 billion if no further federal aid is forthcoming and it has to borrow money to address the deficit created by the COVID-19 pandemic, according to New York state Comptroller Thomas DiNapoli. The website amNY.com reports that, with the MTA saying it could face $12 billion in debt over the next four years, DiNapoli says borrowing $10 billion could lead the agency’s debt service represent a quarter of every dollar the MTA takes in by 2023. Interest on the loan, added to the $35.4 billion in existing debut, could push the total debt figure to $50.4 billion.
A 60-year-old man was killed Monday when he fell into the tracks at the Chicago Transit Authority’s Red Line L station at Granville and made contact with the electrified third rail. The Chicago Sun-Times reports the accident happened about 10:25 p.m., and the victim was pronounced dead at the scene. No additional information is available.