From The Washington Post
Maryland will give Metro its full share of $167 million a year in new, permanent funding, the governor and leaders of both legislative chambers said Thursday, putting the transit system on track to win a historic regional deal to support it.
Virginia and the District have committed to provide their share for a total of $500 million a year in the dedicated funding that Metro says it needs for capital investments to ensure safety and reliability.
With Maryland’s assent, and barring last-minute hitches, the system will receive a reliable revenue stream for the first time since its trains began rolling in 1976.
“This is terrific news for Metro customers, as well as the businesses and communities we serve,” Metro General Manager Paul J. Wiedefeld said.
“In the last two weeks, we have seen history made in the Greater Washington region” as jurisdictions have joined “to make an unprecedented commitment to our Metro system,” said MetroNow, a broad coalition of business, nonprofit and advocacy groups.
In a related development, Metro got some good financial news from Capitol Hill: The omnibus federal spending bill moving through Congress includes a full $150 million annual appropriation for its capital spending for the current fiscal year. The White House has proposed cutting the subsidy to $120 million for the next fiscal year
Read the full article here.