MTA Unveils $65B Capital Plan Despite Funding Uncertainty

NEW YORK CITY — The MTA has unveiled its $68.4 billion capital plan for 2025-2029 as the agency looks to keep the system running amid an uncertain future after the June congestion pricing pause.

Gov. Kathy Hochul’s decision left the agency with a $16 billion gap to fill in its current five-year capital plan.

Officials said its 2025-2029 plan will focus on improving accessibility, signal modernization, station renovations, track upgrades and areas in need of urgent investment, officials said.

The MTA in the proposed plan would bring in 1,500 new subway cars to the fleet and provide signal modernization and fare gates improvements.

An estimated $5.4 billion will go to upgrading subway signals on the Broadway N, Q, R, W line, the Liberty and Rockaway A, S lines, and the Nassau J, Z line, according to the plan.

More than $1 billion will go to new fare gates to be put at 150 subway stations in the city. The new gates would aim to reduce fare evasion — which cost the agency a reported $300 million a year.

The proposed plan calls for at least 60 more stations to be made ADA-accessible and 45 subway station elevators to be replaced.

“After years of underinvestment, more than 90% of this proposed plan – the largest in MTA history – focuses on bringing the system to a state of good repair," said MTA Chair and CEO Janno Lieber. "These investments are necessary to serve the following generations and the future of the region’s economy, environment, and social and economic equity.”

More than 150 stations will benefit from priority repairs, upgrades to customer communications, and enhanced security cameras. 10 stations will be fully renovated, and platform fencing will be installed at 100 stations.

A third-party evaluation carried out by J.P. Morgan determined that in order for the MTA to maintain a capital investment level comparable to industry peers, the Authority would need to invest $23 billion annually.

Other highlights of the capital plan include the Interborough Express light rail line that would connect Brooklyn and Queens. An estimated $2.75 billion will go to fund some of the project.

In addition, by the end of the proposed 2025-2029 capital plan, 20% of buses will be electric, and avoid approximately 32,500 metric tons of carbon emissions every year, representing the largest component of the MTA’s goal to reduce agency-wide operating emissions 85% by 2040.

“The new MTA’s approach to capital construction is allowing us to deliver projects better, faster, and cheaper,” said MTA Construction & Development President Jamie Torres-Springer. “From planning to development to construction, we will keep innovating and driving costs down as we implement the vital investments outlined in this capital Plan.”