MTA Chair Janno Lieber warned that fares on subways and buses could rise to over $3.50 per ride without an infusion of funding from Albany in the state budget, which is due on Saturday.
That would bring the fare for subway and bus rides to $3.55, well beyond the already-controversial pair of 5.5% fare hikes scheduled for this year and 2025, and pose a significant financial strain on millions of riders.
“It is essential that [Albany] move quickly to a budget deal that will fully address the MTA deficits brought on by COVID and to head off service cuts, massive fare hikes, and god forbid layoffs and other undesirable impacts,” said Lieber, who visited Albany on Tuesday to press the issue with lawmakers.
With daily ridership still well below the pre-pandemic average as many New Yorkers adjust to permanently working from home, and federal COVID relief money running dry, the MTA is facing down a nearly $3 billion budget deficit that it legally must close one way or another. The agency says it’s working to identify $400 million in “efficiency” savings, but Lieber has stressed a need for a new status quo on transit funding, less reliant on fare revenue to provide baseline service.
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