The MTA board approved sweeping fare hikes this morning that will raise the monthly subway pass from $89 to $104 and a weekly pass from $27 to $29.
The fare hike will go into effect Dec. 30, 2009 for the Jan. 1, 2011 new year.
The fare hike will bring in $400 million a year to the MTA's coffers. Many of the 17 voting members on the MTA board said it was either raise fares or cut more service, as the authority tries to fill deficits.
"Further service cutbacks would be worse than a fare hike," said board member Mitchell Pally. He also shouted for more federal funding. "Albany, Washington, come help us!"
Only two board members voted against the fare hike.
Fares will also go up on the Metro-North and Long Island Railroad in Jan. 2011.