Metro general manager Paul Wiedefeld officially charged into the region’s political arena Wednesday, unveiling an ambitious plan to save the transit system’s sinking finances.

Wiedefeld is calling on local lawmakers to establish a dedicated source of funding that will provide $500 million annually for WMATA’s long-term infrastructure and maintenance needs. However, he is not prescribing a specific solution, such as a regional sales tax. Wiedefeld is leaving that for elected officials to decide.

The bottom line of Wiedefeld’s long-awaited report, published Wednesday evening on WMATA’s website: America’s second-busiest subway system needs a new business model.

Without one, he warned, “the funding jurisdictions will have to continue to choose every year between substantially reducing service or finding $12 billion more in public money for Metro’s operations over the next 10 years.”

Metro’s board just approved an unpopular budget that cuts service and raises fares to cover a projected $290 million shortfall, and the financial abyss awaits when next year’s budgeting starts up again.

Wiedefeld wants to increase capital spending — the lack of which over the years has left the transit agency in a state of such disrepair it has required a major reconstruction program — to $1.5 billion per year over the next decade. Metro’s current capital program, which pays for new railcars, buses, and station improvements among other projects, is $1.2 billion. So ramping up the spending will require a dedicated funding stream .

The idea is both ambitious but restrained: Wiedefeld said Metro’s capital needs far exceed what he believes is fundable.

Full Content: Wamu 88.5

Remember to subscribe to our free weekly newsletter for more news or subscribe to our service to get unlimited access.