In 2022, the MTA recorded an estimated loss of more than $100 million due to this practice. Factors such as the weakness of the electronic fare system and the lack of security personnel at stations contribute to this serious problem.
The negative impact of fare evasion is reflected in the transportation system, further hampering the financial situation of the Public Transport Authority, which is already facing a deficit of $10.2 billion.
To combat this situation, the Public Transport Authority is implementing a new and safer electronic fare system and increasing the presence of security personnel at stations and trains.
Financial evasion, an additional problem for MTA funds
However, the MTA’s financial crisis is not limited to fare evasion.
In addition to looking for solutions to this problem, the Public Transport Authority was forced to cut services, increase prices, and delay capital investments to address the fiscal deficit.
The New York State government has provided funds to help fill this shortfall, but much more needs to be done to prevent TTA’s financial meltdown.
Various options are being considered, including increasing prices, reducing staff, privatizing some operations, and receiving more funding from the federal government.
The Transport Authority is working hard to resolve its financial crisis, but it is a complex challenge that requires long-term and comprehensive measures.