Markets ripple with news of MTA bailout request

Eight advocacy groups Wednesday called for approval of the federal aid package and asked the U.S. Department of Transportation to approve congestion pricing for Manhattan, which could infuse the MTA with $15 billion of funds through bonding.

"It is more important than ever that the MTA be on solid footing for its rebuilding and modernization needs, given the hit it will be taking to its operating budget," they wrote in a letter to the congressional delegation. The groups include Tri-State Transportation Campaign, Reinvent Albany, Permanent Citizens Advisory Committee to the MTA and Regional Plan Association.

News of the request by New York's Metropolitan Transportation Authority for a $4 billion federal rescue package triggered a flurry of market activity Wednesday.

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