The business-backed financial watchdog said $827 million in federal aid is bailing out the T this fiscal year and next, but the transit authority is likely to face a $400 million deficit in fiscal 2022, which begins on July 1, 2021. Long-term, the foundation said, the T’s financial situation is unsustainable, with expenses expected to increase by an average of 4.7 percent annually through fiscal 2025 while revenues will grow far slower in the short term and just 2 percent annually from fiscal 2023 through fiscal 2025.
June 15, 2020
TRANSPORTATION
Taxpayers Foundation: T facing existential crisis
The business-backed financial watchdog said $827 million in federal aid is bailing out the T this fiscal year and next, but the transit authority is likely to face a $400 million deficit in fiscal 2022, which begins on July 1, 2021. Long-term, the foundation said, the T’s financial situation is unsustainable, with expenses expected to increase by an average of 4.7 percent annually through fiscal 2025 while revenues will grow far slower in the short term and just 2 percent annually from fiscal 2023 through fiscal 2025.
