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In December 2004, the Metropolitan Transportation Authority (MTA) proposed a plan for the next five years of its capital program, and, concurrently, the Rudin Center for Transportation Policy & Management at NYU's Robert F. Wagner Graduate School of Public Service, undertook a review of the program's achievements. This report reviews the investments made under the capital program, the accompanying performance improvements, and the resulting economic payoff. These achievements are placed in the context of the evolving goals, funding sources, and leadership of the capital program. The report also suggests that the ability of the MTA to continue making progress towards the goals identified in the capital program depends on the availability of funding. Moreover, the report finds, continued support from government will be essential to maintaining the system and preventing a return to the crisis conditions of the 1970s and early 1980s. With the Rebuild and Renew New York Transportation Bond Act on the ballot for the November 2005 election, this report helps highlight the importance of investing in our transportation system.
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