The latest fare increase for the Metropolitan Transportation Authority comes against the backdrop of record ridership and a $15 billion funding gap for the system's five-year capital plan.
"The Metropolitan Transportation Authority voted on Thursday to raise the base fare on subways and buses by a quarter, to $2.75, and the cost of a 30-day MetroCard by $4.50, to $116.50," reports Emma G. Fitzsimmons.
Fare increases are now scheduled to be raised every two years, although Metropolitan Transportation Authority had some choices to make when they voted on the fare increase this week, according to Fitzsimmons.
"For subway and bus riders, the bonus for pay-per-ride MetroCards will increase to 11 percent, from 5 percent, for anyone who puts at least $5.50 on a card. The cost of a weekly pass will rise to $31 from $30….The board had considered two proposals for pay-per-ride MetroCards and decided against an option that kept the base fare at $2.50 while eliminating the bonus."
FULL STORY: M.T.A. Votes to Raise Fares on Subways and Buses
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