The subways and buses keep New York City running for the 99%, 24 hours, 7 days a week. For the last several years, the fares have been increasing, while train and bus service have been steadily decreasing.
“Despite the fact that buses and subways are supposed to be a public service, the government and the MTA have turned the system backwards. Instead of using our tax money to properly fund transit, Albany and City Hall have intentionally starved transit of public funds for over twenty years; the MTA must resort to bonds (loans from Wall Street) to pay for projects and costs.
“MTA is legally required to funnel tax dollars and fares away from transportation costs and towards interest on these bonds, called "debt service." This means Wall Street bondholders receive a huge share of what we put into the system through the Metrocards we buy and the taxes we pay: more than $2 billion a year goes to debt service, and this number is expected to rise every year. If trends continue, by 2018 more than one out of every five dollars of MTA revenue will head to a banker’s pockets.”
MTA is using this self-inflicted crisis to not only lower the quality of life for Transit workers but for the entire city.
IF YOU TAKE A BUS OR A TRAIN EVERYDAY, LET BLOOMBERG AND CUOMO KNOW.
TRANSIT WORKERS UNION 100 – ARE THE 99% AND MOVES THE 99%!