Sixteenth of a Series: Different ‘Fiscal Cliff’ for New York?

This past summer, we reported in depth about the “fiscal cliff” that now confronts essentially the entire transit industry in the United States, due to the one-shot nature of COVID-19 relief funds authorized by Congress in late 2020 and early 2021. That money is running out and, as we reported, ridership and revenue have not returned to pre-pandemic levels. We…