The MTA is expected to release its November 2023 Financial Plan shortly. At the MTA's last budget update, the July 2023 Financial Plan and 2024 Preliminary Budget showed five years of balanced budgets—primarily due to New York State’s stabilization plan that increased dedicated taxes, directed forthcoming license fees and projected taxes from casinos to the MTA, and increased subsidies.  

The overall budget outlook is positive. Still, caution is warranted. Our "What to Look for" report highlights potential risks to revenue (such as casino licenses and bus fare evasion) and expenses (overtime and unidentified-but-budgeted savings) and how they could affect the agency's bottom line—as much as $413 million next year, growing to $927 million in 2027, if all of the risks become reality.