Metropolitan Transportation Authority

The controversial idea has taken on more urgency as transit agencies nationally struggle with low ridership.

If implemented, New York's congestion pricing plan will be the first in the nation.

The MTA, which expected to begin collecting the tax next year, has revised downward its 2024 projections as federal review is taking longer than expected.

Deposits to reserves that had been planned for fiscal 2024 and 2025 would be completed by the end of the current fiscal year, bringing the total to $24 billion.

Transportation sectors from airports to toll roads are expected to remain stable despite a likely recession and high inflation and interest rates, ratings analysts said.

"The good news in this budget is that the MTA has increased its effort to find efficiencies, so that's now a larger portion of the plan. The challenge is that efficiency portion of the plan should be much, much bigger," said CBC President Andrew Rein.

"I'm thrilled to have that opportunity to join the team," Patrick McCoy says. "It's a very important project with regional implications. To be part of that team is going to be very exciting."

"The MTA's structural gaps remain huge and demand immediate action and a multi-party, multi-year plan" says Citizens Budget Commission President Andrew Rein.

Municipal to UST ratios have risen this week with the 10-year approaching 90% and the 30-year topping 100%.

The congestion pricing plan that puts tolls on vehicle traffic coming into lower Manhattan still faces many hurdles before it would take effect.