NYC Free Public Bus System

planned

New York City mayor-elect Zohran Mamdani has promised to make the largest public bus system in the US free. The Metropolitan Transportation Authority (MTA) operates this bus system, which has about 4,500 buses serving a vast network. The MTA currently uses bus fare revenue to help repay $17 billion in farebox bonds. Mamdani proposes raising taxes on millionaires and businesses to generate $9 billion in new revenue to fund free buses, free childcare, and affordable housing. The plan requires approval from state lawmakers in Albany, as the MTA is a state agency. The MTA CEO has indicated that making all buses free is a large-scale endeavor that needs study. The MTA anticipates collecting $903.5 million in bus revenue in 2026, increasing to $971 million in 2029, which would be lost if buses become free. Alternative funding sources would be needed to replace this revenue to maintain bond repayments.