According to its 2005 budget, New York City is still looking to save $150 million by transferring the seven bus companies supported by city subsidies to NYC Transit next fiscal year, the Straphangers Campaign reported this week.

Transit advocates support the consolidation, but want the city to maintain financial support unless some new source of revenue can be secured to support the bus service. Forcing the MTA to suddenly shoulder the burden of the franchise buses’ operation will result in further budget pressure on the MTA, likely accompanied by service cuts for riders using the lines.

The city also provides about 5% of NYC Transit’s operating fund with its $250 million annual contribution. The MTA faces budget woes and possible fare hikes in the next few years — any reduction from city or state sources that support NYC Transit could exaggerate these problems and further transfer the cost to riders.

Mayor Bloomberg also officially announced in his budget address last week that he was officially ending his quest to institute tolls on the Brooklyn, Manhattan and Williamsburg bridges.

Bloomberg first floated the toll plan, which experts estimated would have raised at least $600 million in annual revenue and eliminated as much as 9% of New York City’s traffic gridlock, shortly after taking office in early 2002. But he never launched an effort to muster political or popular support to overcome strident opposition from officials representing Brooklyn and Queens, and did not take practical steps toward toll implementation.

The Bridge Tolls Advocacy Project, a pro-tolls group, released a statement on the announcement. "Bloomberg gets an ‘A’ for vision but an ‘F’ for follow-through," said economist and Bridge Tolls founder Charles Komanoff. 

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