MTA’s Budgetary Health Hangs In The Balance, Committee To Vote On $2.50 Subway Fare


mta-trainThe Metropolitan Transportation Authority is expected to vote this week on increasing the cost of a single ride from $2 to $2.50. Also at stake for the customer is a possible toll increase on MTA bridges and a possible commuter tax. After months of stalled deliberations, the fate of the MTA’s budgetary health still hangs in the balance.

Gov. David Paterson and state lawmakers are at odds over a deal to head off the steep fare increases. The legislature has until Wednesday to agree on a plan for closing the MTA’s $1.1 billion gap.

“People have a legitimate reason to be frightened. The cuts that are going to be implemented are going to hurt the system. The fares that are going to be implemented are going to chase people away,” said MTA board member Allen Cappelli.

The MTA’s finance committee will vote on the fare hikes today, followed by a full board vote on Wednesday.

The price of a monthly MetroCard would go up to more than $100 under the plan. The increases would take effect June 1.

{CBS Broadcasting/ Newscenter}