In the first State of the MTA Address, MTA CEO and Executive Director Elliot Sander mentioned the agency would invest an additional $30 million in more subway service, new and extend bus service in the city and additional commuter trains for LIRR and Metro-North. Now the Daily News finds out the MTA probably won't be able to do so, thanks to the faltering economy. more ›

If you actually believed the recent fare hike would go toward service improvements on city subways and buses, the MTA has a bridge to sell you. Due to a slowdown in real estate tax revenues, the agency said yesterday that it would have to postpone any planned service improvements promised to come with the fare hike. Despite already projecting a decrease in tax revenue, the MTA fell $21 million short of its projections for the year, with the MTA's CFO Gary J. Dellaverson saying, "We took these tax projections down quite dramatically from last year, and they are quite dramatically underperforming." more ›