Port Authority's financial woes have gotten a lot of attention but the agency is hardly alone. Operators across the U.S. are cutting service and raising fares because of declining government support.
Now comes word that the transit systems also have a huge backlog of needed capital improvements. A Federal Transit Administration study released last week estimated the cost of bringing the nation’s rail and bus transit systems into a state of good repair at $77.7 billion.
While most of the backlog can be attributed to rail systems, more than 40 percent of the nation’s buses are in poor to marginal condition, the report said.
The assessment is available online at http://www.fta.dot.gov.
The Federal Transit Administration is preparing to award $775 million in grants for repair projects. It received about 400 applications totaling $4.2 billion.