Agency Says Hikes Are Necessary For Health Care, Pension Costs

NEW YORK (CBSNewYork/AP) — More fare hikes will be coming for New York City bus and subway riders.

Metropolitan Transit Authority officials said Wednesday that MetroCard prices are expected to rise in 2015 and again in 2017. How much the bus and subway fares will go up was not revealed Wednesday.

The MTA board will determine the fare hike after public hearings.

MTA Chief Financial Officer Robert Foran 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.

Bus and subway fares jumped in March to $2.50 from $2.25.

In addition, a 30-day unlimited MetroCard rose $8 to $112. A seven-day MetroCard went up a dollar from $29 to $30. A $1 surcharge was also instituted for those who buy a new MetroCard, rather than refilling an old one.

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