MTA announces new $350M budget shortfall
Photo credit: Newsday File / Robert Mecea | An LIRR train navigates down the tracks in Queens. (Jan. 6, 2007)
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In the struggling Metropolitan Transportation Authority's latest financial calamity, the transit agency announced Wednesday it is facing a new $350-million budget shortfall driven by lower-than-expected tax revenue.
The latest budget deficit comes atop a gap of nearly a half-billion dollars that the agency has sought to fill through widespread service cuts. Among those proposed cuts are cancellation...
