MTA Approves 10 Percent Fare Increase; From $2 To $2.25

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mtaNew York’s mass transit agency voted today on a new package of fare increases that will raise the cost of a subway ride from $2 to $2.25. The vote by the board of the Metropolitan Transportation Authority came after the state Legislature approved a $2.26 billion bailout for the agency last week. Overall tolls and fares will go up about 10 percent – smaller than an earlier plan to boost them up to 30 percent. The bailout also calls for a 50-cent surcharge on taxi rides, increases in vehicle registration and license fees, and a payroll tax on employers in counties around New York City.

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