MTA officials said it will be “several months” before they consider fare hikes again — but that the agency’s dire fiscal state may leave them no choice.
Appearing before state legislators during a Zoom budget hearing Tuesday, officials warned that the agency is losing $5 million for each additional month it delays the planned increased.
“We’ve had to rely on the federal government to stay afloat, since the state and city are facing the same dire financial crisis as the MTA,” MTA Chairman Pat Foye testified.
“While we believe it’s the right thing to do, delaying any fare increase has an impact on an overall already extremely fragile budget.”
Foye and his team announced plans last week to delay the MTA’s biannual fare increase, which was expected to be about 4 percent. Bridge and tunnel toll increases are still on the table.
Read more at NY Post.
{Matzav.com}
