Ha-ha, the MTA Might Hike Fares Again

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Commuters wait on a platform as a train arrives at a subway station in New York, November 21, 2008. The New York Metropolitan Transportation Authorithy (MTA) said that to plug a 1.2 billion USD budget gap next year, it must increase fare and toll revenues by 23 percent, which would raise an additional 670 USD million if the increase goes into effect in early June.
Photo: EMMANUEL DUNAND/AFP/Getty Images

At a board meeting on Monday night, an MTA official advised attendees that New York’s fares could be increased by as much as 15 percent if the administration doesn’t secure funding to fill the gap in its $32 billion capital plan. “At some point, the board may take action and the action that they really only can turn to would be one that addresses fares and tolls,” MTA CFO Robert E. Foran told the board. For now, officials promise, another fare hike is only a hypothetical, but they also said train services could be cut if the budget isn’t settled soon. We eagerly await paying $5 to wait 45 minutes for a 3 train.