New York’s Metropolitan Transportation Authority (MTA) recorded 15.8 billion USD in capital commitments in 2025, the largest single-year total in the agency’s history.
The investments support accessibility improvements, state-of-good-repair work, and system expansion projects, including more than 5 billion USD funded through congestion pricing.
The commitments also include the first projects under the MTA’s 2025–2029 Capital Plan, which received full funding in the FY26 Enacted State Budget through state support.
Governor Hochul said:New York is investing in transit like never before, with record levels of investment being made to upgrade our existing system and to bring better transit to more communities. The historic year for capital investments at the MTA — including $5 billion in projects made possible by congestion pricing — will improve the commutes of millions of New Yorkers and will ensure that this lifeblood of the entire region is able to deliver for riders for years to come.
In 2025, capital commitments were allocated across multiple areas:
- Signal improvements: 2 billion USD
- Rolling stock: 6.6 billion USD
- Expansion projects: 2.7 billion USD
- Accessibility: 500 million USD
- Bus upgrades: 500 million USD
- State-of-good-repair and other support: 3.4 billion USD
Significant contracts included 166 million USD for engineering and design work on the Interborough Express, moving the project from planning into an active phase. The 2025–2029 Capital Plan includes 2.75 billion USD for the transit link between Brooklyn and Queens.
Congestion pricing has contributed to progress on several major projects, including:
- Second Avenue Subway Phase 2 tunnelling, proceeding on schedule and budget
- Signal modernisation on the Fulton and Liberty AC lines, achieved at a per-mile cost approximately 33% lower than previous projects
- Accessibility upgrades at seven stations, including the Bryant Park Complex on the BDFM7 lines, completed 6% under engineering estimates
The year also saw the purchase of over 300 new Long Island Rail Road train cars and an option exercised to acquire 270 additional electric buses for the city fleet.
Completed projects in 2025 totalled 6.7 billion USD, following 2023’s 7.1 billion USD as the largest annual completion figure in recent years. Improvements included 41 elevator replacements and 10 newly accessible stations, as well as circulation enhancements at Grand Central Terminal, the opening of the Rail Car Acceptance Facility in Brooklyn, and the rehabilitation of the Verrazzano-Narrows Bridge lower-level deck.
Megaprojects also progressed. The first phase of the Park Avenue Viaduct replacement finished 21 months ahead of schedule and 93 million USD under budget. Work on the Grand Central Train Shed concluded its first phase 20 million USD under budget, with 75 million USD in private funding secured for the next phase.
The record-setting capital commitments mark a continuation of investments aimed at maintaining and expanding the transit system to meet current and future needs.
