Maryland transit agency facing $2B shortfall in next decade

BALTIMORE (AP) — A report from the Maryland Transit Administration says it’s facing a funding shortfall of more than $2 billion over the next decade.

The Baltimore Sun says the first Capital Needs Inventory says the report also identifies $5.7 billion in necessary spending between now and 2028. Of that amount, the MTA needs $1.5 billion now to bring the agency’s assets into good repair. The other $4.2 billion will be required to address aging equipment and infrastructure.

The report was required as part of last year’s Maryland Metro/Transit Funding Act following the emergency shutdown of the Baltimore Metro Subway.

A spokesman for Gov. Larry Hogan says his administration is dedicating more than $14 billion in operating and capital funds to the MTA and Washington Metropolitan Area Transit Authority between now and 2024.

___

Information from: The Baltimore Sun, http://www.baltimoresun.com

Copyright © 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

More from WTOP

Log in to your WTOP account for notifications and alerts customized for you.

Sign up