USD/BTC =$105,712
Block 899,690
TL:DROfficials in New York have approved a $68.4 billion investment in the city's subway system.On Wednesday, the board of the state's Metropolitan Transportation Authority (MTA) approved the plan,
which would refurbish Grand Central Terminal and upgrade parts of the rail system that are more than 100 years old.In a statement shown to Newsweek, the agency said, "MTA Construction & Development (MTA C&D) is ready to hit the ground running and deliver this capital work better, faster, and cheaper following final approval of the capital plan."
Why It Matters
New York uses its sprawling transit system to move millions daily.
The new plan is the largest capital investment in the MTA's history, according to the agency, but parts of the funding are yet to have a source, despite contributions from the city and the federal government.The $68.4 billion capital plan, covering 2025 to 2029, is set to fund upgrades across subways, buses, bridges and tunnels.The investment forms a significant portion of the city's public infrastructure spending, though
it remains a fraction of the city's overall annual operating budget of roughly $100 billion.The plan projects $1.4 billion in annual funding from the increased payroll mobility tax, alongside a $3 billion city contribution and an anticipated 20 percent from the federal government.The plan calls for the purchase of 1,500 new subway cars, upgraded signaling, the installation of modern turnstiles to prevent fare evasion and major accessibility improvements at 60 subway stations
My Thoughts ðŸ’
Whole lot of Bitcoin to invest into the MTA but I like it. Getting around NYC on the metro is delight. With more security and better sanitation it could rival the trains that run in Tokyo. But since they have funding gaps this would be a great project to do a bitcoin bond! Come on Eric Adams here is your moment