MTA considering 5.5% fare hike to prevent going over financial cliff
NEW YORK (PIX11) -- The MTA on Wednesday announced it is considering a 5.5% fare hike amid massive budget issues. The new cost of a single ride would be $2.90.
The agency had previously planned to raise the fare by only 4%. However, the fare hike alone will not solve the agency’s problems.
According to a new report from New York State Comptroller Tom DiNapoli, the MTA would need to increase the fare by 28% just to return to pre-pandemic farebox revenue levels.
The...
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