The MBTA is in a “full-blown crisis,” asserts the Massachusetts Taxpayers Foundation in a new report, and it’s one that won’t be solved by a federal receivership or dissolution of the agency. Those suggestions may attract a lot of attention, the report released Thursday said, but they “fail to address the core challenges afflicting the MBTA today.”

Resolving the T’s “dysfunction,” which will largely fall to the next gubernatorial administration, boils down to three key components: working physical infrastructure, fiscal health and a functioning organization, the report said. “That requires the T to fix or upgrade its tracks, power, signals, vehicles and the rest of its infrastructure — quickly,” the report said. “It means the T’s grave fiscal problems … must be resolved within the next two years. And it means remaking the T into an effectual organization.”