Metropolitan Transportation Authority

A hearing for four separate federal lawsuits seeking to block the congestion pricing plan is set for Dec. 20.

The agency says it will be able to fully fund its current and upcoming capital plan, despite lowered tolls. 

Opposition from President-elect Trump and lawsuits from all sides persuaded Gov. Kathy Hochul to lift her pause on the tolling program.

The incoming administration's opposition to congestion pricing has put renewed pressure on New York's governor. 

The larger supply calendar should be "taken down well given the persistent inflows into our market and investors are still sitting on plenty of cash," said Daryl Clements, a municipal portfolio manager at AllianceBernstein.

The MTA's biggest-ever capital plan focuses mostly on upkeep for the system. But it's more than $33 billion short of funding for the five-year program.

The New York region's beleaguered transportation agency could need up to $92 billion for its next capital plan, said State Comptroller Thomas DiNapoli. 

New York lawmakers are helping a coalition of legal experts, transit riders, and environmental and disability advocates sue the governor for stopping congestion pricing.

Gov. Kathy Hochul's "pause" on congestion pricing puts a $16.5 billion hole in the Metropolitan Transportation Authority's capital plan.

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.