Saturday, September 25, 2010
The Port Authority Board of Directors has decided to delay a scheduled vote on service cuts, layoffs and fare increases until November 24. The board wants to give the state legislature more time to address the $492 million hole in the transportation funding budget. PAT has proposed cutting service by 35%, laying off 500 workers and boosting fares in January to fill a projected $47 million shortfall. $27 million of that deficit comes from a reduction in state aid. Because of the postponed vote by the PAT Board, the cost saving measures would be delayed till March....that is if state lawmakers do not approve new funding. PAT CEO Steve Bland estimates the 2 month delay could cost the transit agency another $5 million.