Gov. Kathy Hochul and the MTA would have to increase the cost of a subway or bus trip by 79-cents to recoup pre-pandemic revenue levels, State Comptroller Tom DiNapoli warned Tuesday.
Without new sources of funding — and in lieu of a sudden uptick in ridership — officials will be forced to enact severe service cuts and fare hikes, DiNapoli said. A 4% fare hike is currently scheduled for next year and again in 2025, according to the MTA’s most recent financial documents. Officials would have to raise fares 19% on top of that to match pre-COVID revenues, DiNapoli said. The current subway and bus fare is $2.75; under the comptroller’s calculations, that price would rise to $3.54 by 2026.that allowed her appointed MTA leadership to delay such hikes “indefinitely.
MTA CEO Janno Lieber has warned that increasing fares could actually deter ridership — inadvertently reducing the transit authority’s fare revenue.Getty Images
The MTA is constantly late, under construction, outdated, unsafe, and they think this will make me ditch my car 🚗? No thanks I'm good. Tolls are cheaper than fare for pee smelling buses and train's.
NYC got the worst transit system in the world. Things will never get better because of the MTA corruption. They got no clue how to manage their money and will constantly stick their hands in the pockets of New Yorkers because they think we're their piggy bank.
COVID is a scapegoat for the poorly mismanaged MTA the city doesn’t need to put more burden on commuters they should scrap the MTA and start from scratch :)
The MTA can't even arrest this 'suspect' WalterShavers and wants to raise fares? Over a year ago this violent/dangerous/racist 'suspect' took over the UpperWestSide and he is still at his crime scene: Emergency gate 93rd St/Broadway (of the 96th St & Broadway subway station).
Is this not price gouging?
Every Politician etc should get a pay cut.
MTA is the most wasteful, corrupt agency in the country. No accountability, no meaningful oversight, and no care for taxpayers.
Pay more for piss smells ! Get see crime and drugs !
So, you mean like a bar raising their prices above normal drink prices to make up for the happy hour price loss. Gotcha
How about getting your fellow democrats to address subway crime, so people aren't afraid to ride.
So true inflation is around 29% now…?
So can everyone raise their salary 29% to regain the job lost during Covid?
They need to do a massive audit of this agency. Where does the money REALLY go?
i would do 69% to sidetrack the story of a price hike
Absolutely the worst metro system in the world.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SAcurrent - 🏆 607. / 51 Read more »
Source: AFPFactCheck - 🏆 540. / 51 Read more »
Source: PhillyDailyNews - 🏆 89. / 67 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: DigitalTrends - 🏆 95. / 65 Read more »
Source: harpersbazaarus - 🏆 467. / 52 Read more »