Jai Patel

So I think, Tim, one thing that I would say is MTA is a leader.

And being the largest agency in North America, other agencies look to us.

I think I said this before.

We led with the fiscal cliff.

We lead with our capital program as well.

We have started to do things differently since Jan O'Lieber took over for CND and now Jamie Torres-Springer.

We do design build.

We do faster, cheaper projects.

and better, but we're employing definitely different ways of doing capital programs as well as operating for us to be better.

So as you know, the the congestion revenue is dedicated to the 20 to 24 capital program.

It is expected to generate 15 billion for that program.

And once we see a stable market in the revenues coming in, we do plan to issue debt.

We've talked about it.

That's not some time until 2026 for us.

Once we see a comfortable stream of revenue, we've projected 500 million for the next three years.

And we want to make sure that we see that revenue and the markets are comfortable issuing that debt for us.

So as the governor has said to us, right, it's the toll will continue to be nine dollars for MTA.

three years, then it'll increase gradually to the next three years at $12.

And then in the final, the seventh year, it'll be a $15 toll.

So we've already had that phased in based on the schedule we approved.