Metropolitan Transportation Authority

New York MTA now puts the tab for the 13-year-late project at $11.2 billion, more than two-and-a-half times its original estimate.

While New York MTA's proposed 2.4% bump in its five-year capital program involved no new funds, it generated spirited debate on several fronts.

Unhedged and hedged variable-rate debt each account for 6% of the authority's $37.3 billion of bonds outstanding, according to Patrick McCoy.

Components of the MTA's bus-overhaul initiative could pave the way for congestion pricing, which New York's state legislature essentially sidestepped this year.

Metropolitan Transportation Authority Joe Lhota defended the agency after a rating downgrade.

Climate Bonds Initiative of London cited the authority's $662 million green sale.

The authority is selling revenue variable rate refunding bonds.

S&P Global Ratings said revenues are not increasing to match the New York regional transit agency's expenses.

Council Speaker Corey Johnson spelled out several conditions for such an increase to MTA Chairman Joe Lhota.

"We have to find new solutions," said Partnership for New York president Kathryn Wylde.