Posts Tagged "MTA fare hikes"

You may have heard the buzz about recent increases in your LIRR train ticket. If so, that means you could be affected by the new MTA fare hikes. That’s not even the worst part: the Metropolitan Transit Authority has raised fares on New York City subways and buses, bridges, tunnels and the Metro-North Railroad. According to a Long Island Press article, the MTA fare hikes will begin on March 22, 2015. The hike will be approximately 2-6% depending on the type of commute. However, you won’t see the full spike all at once. Over the next two years the MTA fare hikes will be sectioned out in $0.25 increments. The MTA’s plan is to allot small hikes for off-peak 10-trip and monthly unlimited-ride tickets. MTA Chairman and CEO Thomas F. Prendergast states in press release, the MTA fare hikes are designed to only slightly impact customers. However, after cutting $1 billion from expenses, which include operating costs, the fare hike balances out their new budget. By 2017, MTA plans to cut $1.5 billion from the budget, which is reason for the hikes in increments. What the MTA Fare Hikes Will Look Like The following increases are expected as of March 22: One-way peak will rise from $14.75 to $15.25...