Report: MTA Considering Potential Fare Increase For Subway And Bus Riders
NEW YORK (CBSNewYork) -- New York City subway and bus fares could be on the rise once again.
The Metropolitan Transportation Authority is reportedly considering two proposals aimed at lifting revenue by four percent. One would raise the fare to $2.75 while expanding MetroCard discounts; the other would keep the fare at $2.50 while trimming price breaks, the Wall Street Journal reported.
Report: MTA Examines Two Scenarios Under Plan To Raise Revenue
Both proposals would raise the price of monthly unlimited passes by $4, the Wall Street Journal reported.
Last week, MTA Chair and CEO Tom Prendergast said the system has to expand and improve, but the $30 billion capital plan is facing a $15 billion gap.
"There isn't a major system in the world that considers itself to be a financial center that is not making considerable investment, not only in the maintenance of its infrastructure, but expanding the network," Prendergast said.
It's expected two million additional riders could be squeezing into the region's transit system by 2035, Prendergast said.
"Five times in the month of September of this year we carried more the six million people on the New York City subway system, the majority of that growth has been in the midday period, weekends and nights when people are taking advantage of the discounted MetroCard services we provide and they're riding the system," Prendergast said.
The capital plan includes funding for the Second Avenue subway line, the completion of the so-called East Side Access project providing a faster commute from Long Island and Queens and four new Metro-North stations in the Bronx.
The five-year plan also includes upgrades to the existing system such as installing countdown clocks in more subway stations to let riders know when to expect a train.
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