MTA fare and toll hikes to happen in 2015 and 2017
The MTA will increase MetroCard fares and tolls again in 2015 and 2017 under updated financial plans released Wednesday.
The proposed hikes would address long-term costs including pensions, health care for retirees and debt payments, among other “uncontrollable” costs.
Because of the costs, the MTA needs an additional $424 million in 2015 from increased mass transit fares and tolls from its bridges and tunnels. Another $469 million from new hikes is necessary in 2017.
Even with the increases, the plan predicts a $335 million deficit in 2015 and another $403 million deficit in 2017.
The four-year plan presented to the MTA board doesn’t provide specifics on hikes for MetroCard users or tollways and bridges.
Spokesman Adam Lisberg noted the MTA worked with the state legislature to agree on “a pattern of regular but modest fare and toll hikes” years ago.
“The new financial plan unveiled today keeps the costs within the MTA’s control at the level of inflation for each of the next four years,” Lisberg said.
MTA fares previously increased in March, bringing the price of a single subway ride to $2.50.
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