The Metropolitan Transportation Authority (MTA) has approved its financial plan, which includes fare and toll hikes that could take effect next August. The agency declined to reveal the exact amount of the increase, but it is expected to raise the base fare to $3.
The proposed hike is part of a consistent pattern, with the MTA increasing fares every other year since 2009 by approximately 4%. This year’s rise follows last year’s adjustment from $2.75 to $2.90, and an exception in 2021 when Governor Kathy Hochul froze fares during the pandemic.
Riders have mixed reactions, but the MTA argues that it needs to increase costs due to high labor and pension expenses. The agency claims 80% of its costs go towards people, pensions, and health benefits, which will require minor adjustments to staff.
One notable change is the implementation of congestion pricing on January 5, 2025, affecting drivers who don’t use E-Z Pass. Those without an E-Z Pass will face a new rate of $13.50, up from $9.
The fare increase still requires official approval at an MTA board meeting in March and by Albany, with potential changes depending on Governor Hochul’s proposed funding alternatives.
Source: https://abc7ny.com/post/nyc-congestion-pricing-mta-hold-board-meeting-discuss-subway-bus-fare-hikes/15671934