Construction costs slow development of N.Y. transit

New York's Metropolitan Transportation Authority is pushing back several long-awaited projects as rising construction costs wreak havoc with the department's budget. Both a new subway on Manhattan's East Side and new rail connections from Long Island to Grand Central Terminal won't get started until 2015, MTA announced Wednesday. The agency said higher materials costs have driven up the price tag of various projects by $1.5 billion.

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