MBTA’s Money Woes Compound Weather Woes
BOSTON (CBS) – It certainly has not been a banner week for the MBTA. Delays caused by equipment breakdowns from the snow and cold temperatures left passengers waiting for trains and buses.
But there is more to the T’s woes than the weather.
Jason Schwartz, associate editor of Boston Magazine writes in the current issue that the MBTA is way behind on repair projects, and they are not spending enough to maintain the system.
“The T, by its own admission, is $3 billion behind on state of good repair projects,” Schwartz told WBZ NewsRadio’s Dan Rea on Nightside Thursday night. “That means just fixing all the things that need fixing to get the system up to par.”
The T’s General Manager, Richard Davey said they are looking for new revenues, but adds they are carrying more than $8 billion in debt.
“Unfortunately the money that we take in each year, we do have to dedicate a larger portion of that to debt service than any other transit agency,” Davey said.
Fare hikes are off the table for at least 18 months, according to Davey. He also said the MBTA has no plans to file for bankruptcy.