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Over-Budget NYC Transit Plans Could Force Cuts

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Jan 31, 2007 8:31 am US/Eastern

Over-Budget NYC Transit Plans Could Force Cuts

NEW YORK (CBS/AP) ―

Click to enlarge 1 of 1: The extension of the No. 7 subway line is part of the capital spending plan. (File photo)
AP

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A multibillion dollar plan to expand and improve the city's transit system is over budget and that could force the Metropolitan Transportation Authority to cut or delay critical projects, the New York Times reported in its Wednesday edition.

The five-year, $21 billion program could be $1.4 billion over budget, meaning the MTA may be forced to curb renovations to subway and commuter train stations, maintenance and new purchases, such as hundreds of buses and subway cars.

The cause of the overrun in the MTA's budget is the escalating cost of construction in New York City, the newspaper said. The price tag for subway cars bought from French and Japanese companies may also swell, due to the weak dollar.

The MTA's executive director, Elliot G. Sander, said that there was no question that the agency was facing serious financial issues. "We are particularly concerned about the increase that we are seeing in construction costs, and we have undertaken a comprehensive look at the issue," he said.

The five-year capital program includes such projects as the Second Avenue subway, a Long Island Rail Road link to Grand Central Terminal and the extension of the No. 7 subway line.