MTA Plans Subway Fare Hikes
New York City commuters can expect to pay more to use public transportation.
Metropolitan Transit Authority officials said Wednesday MetroCard prices are expected to rise in 2015 and again in 2017. How much the bus and subway fares will go up is still unknown. The MTA’s board will determine the fare hike after public hearings.
Robert Foran, the MTA’s chief financial officer, said in a presentation to the MTA’s board that future fare and toll increases will depend on the authority’s finances at the time. He said the authority had to cover health care, pension and other costs.
Obamacare
The MTA has it all wrong. Healthcare costs should be going down.
Mordechai Jacobson
I work in the MTA budget office and Obamacare is actually COSTING us $5M in 2014. Health and pension expenses were $1B in 2005. They are projected to be $2B in 2014. Wages have increased less than 3% per year during that time; if it were only wage increases, fare hikes would be infrequent, but to have to pay for an additional billion dollars per year in health and pension expenses is a daunting task.
Chaim
The MTA is a complete ripoff.
They used to charge $2 only three years ago. Now they charge $2.50 and an extra $2.50 for each metro card you buy. Well officially only $1, but then there is an addition $1.50 that you can never use since all cards are sold in increments of $5.
Wage increases of 3% per year over the last 9 years? I guess that explains why they are ripping us all off. Perhaps like all businesses they should stop hiking wages until they can balance their books.