Gov. Kathy Hochul and the MTA would have to increase the cost of a subway or bus trip by 79-cents to recoup pre-pandemic revenue levels, State Comptroller Tom DiNapoli warned Tuesday. With ridershi…
Gov. Kathy Hochul and the MTA would have to increase the cost of a subway or bus trip by 79-cents to recoup pre-pandemic revenue levels, State Comptroller Tom DiNapoli warned Tuesday.
Without new sources of funding — and in lieu of a sudden uptick in ridership — officials will be forced to enact severe service cuts and fare hikes, DiNapoli said. A 4% fare hike is currently scheduled for next year and again in 2025, according to the MTA’s most recent financial documents. Officials would have to raise fares 19% on top of that to match pre-COVID revenues, DiNapoli said. The current subway and bus fare is $2.75; under the comptroller’s calculations, that price would rise to $3.54 by 2026.that allowed her appointed MTA leadership to delay such hikes “indefinitely.
MTA CEO Janno Lieber has warned that increasing fares could actually deter ridership — inadvertently reducing the transit authority’s fare revenue.Getty Images
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