Early Addition: MTA's $48B debt could threaten the future of public transit

Also, a vote on price increase for 1 million rent-stabilized units. [View this email in a browser.]( Gothamist relies on your support to make local news available to all. Not yet a member? [Consider donating and join today.]( [In 1981, the MTA took out $2.5 billion in debt to fix the crumbling subway system.]( [Now they are buried under a $48 billion mountain.]( [first image]( [Paying it off threatens the agency's core function: running mass transit for millions of daily commuters.]( Welcome to Wednesday in New York City, where the nation's largest transportation system is "uncertain" if it will have enough money to stay afloat beyond 2026, according to documents reviewed by our journalists. Our reporters found that the situation that could have been avoided — or at least been far less dire — had New York elected officials not put so much of the agency’s expenditures on a credit card. Read the full investigation from Stephen Nessen and Clayton Guse [here](. Want to keep up with our transit coverage? [Sign up for We the Commuters today]( and get a behind-the-scenes look at this story in your inbox tomorrow. Here's what else is going on today: - In other subway news, if you've heard a man's voice loudly proclaim "in 10 days, a legend will face his destiny" at stations on your commute: [you are not imagining it](. - The NYC Rent Guidelines Board will [hold their annual vote tonight]( to decide on how much rents will increase for roughly 1 million rent-stabilized apartments next year. - Tune in to [All Of It]( today at noon to hear more about that Upper West Side 70's cult. Author Alexander Stille will join the show to discuss his new book, The Sullivanians: Sex, Psychotherapy, and the Wild Life of an American Commune. - A majority of tenants surveyed at the Chelsea Elliot and Fulton New York City Housing Authority complexes [voted in favor of a controversial proposal]( to tear down and replace their apartment buildings. NYCHA will unveil their plans for the buildings today. - The number of fully-insured dollar vans on NYC streets have shrunk to fewer than 30 since 2019 and now [drivers are calling on Albany to approve a set of bills to lower insurance rates]( and help rebuild the once thriving system. - A newly passed bill in NY that would make it [easier for a defendant to challenge a wrongful conviction,]( even if they’ve already pleaded guilty, is awaiting Gov. Kathy Hochul’s signature. - Airbus is experimenting with [adding more autopilot features to their planes]( extending it to landing, taxiing and using it to help in the event of an emergency. - Ever wonder what it’d be like to watch an episode of Radiolab come to life before your eyes? Tomorrow at the Greene Space [you can experience just that](. Join Senior Producer Simon Adler as he tells the story of the loneliest man in the universe and the cassette tape that saved him. - A supervised release program that allows people accused of crimes to stay out of jail, show up for court and avoid rearrest is [struggling to stay afloat after an explosion in popularity]( in the wake of bail reform. - New York passed a bill to protect doctors who [prescribe abortion pills through telehealth services]( to residents of states where abortion is banned. - Police [arrested two men]( in connection to a string of weekend stabbings on the 4 train and authorities are crediting a surge in police presence for the quick arrests. - [Cake is making a comeback in NYC]( in a much smaller form, because people can’t get enough of gourmet personal cakes and are not afraid to dish out top dollar for them. - A bill that prohibits dumping of radioactive waste into the Hudson River [passed a special session of state Assembly yesterday]( and now moves onto Gov. Kathy Hochul’s desk, but since federal law regulates nuclear waste management, the proposal could face some challenges. - Dog psychics performing tarot readings for pups will be just one of the activities available at [the first ever Manhattan West Woof Fest: Paws for Pride festival]( this weekend. “I don’t enjoy being advertised to or solicited to when I’m in a forced situation. It’s enough to just view posters, billboards, and digital readerboards.” - Layard Thompson, commuter, discussing [THE MTA'S NEW INDIANA JONES AUDIO ADS.]( More from Gothamist [second image]( [NYC Pride Weekend 2023: Where to be and what you'll see]( Marking the culmination of Pride Month celebrations in New York City, this weekend will be a busy one, full of events all around New York City. Here are details about where to find the weekend's major events, including the official NYC Pride March on Sunday. [Proposed property tax cut for seniors could pave the way for NJ budget deal]( New Jersey Gov. Phil Murphy and Democratic leaders in the state Legislature have agreed to compromise on a property tax cut for seniors, paving the way for a deal on the budget due by the end of the month. [We Rely On Your Support]( ['The greatest man I've met': iconic comics artist John Romita Sr. remembered by his son]( One of the preeminent artists from the so-called “Silver Age of Comics” passed away this week. John Romita Sr. was 93 years old and he was a New Yorker, born and raised – just like Spider-Man, the Punisher, and so many of the other characters he created and worked on over his decades at Marvel Comics and other publishers. [NYC families with young children need more affordable childcare options, advocates say]( As Mayor Eric Adams and the City Council negotiate a final budget, education advocates are highlighting the pressing need for more affordable childcare options for families. 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