The Metropolitan Transportation Authority is planning to boost its fares and tolls in late August as the largest US transit provider looks to collect more revenue to help close budget deficits.
The MTA, which operates New York City’s transit network, is considering boosting the cost of a single subway or bus ride to $2.90, up from $2.75. A seven-day unlimited pass would cost $1 more at $34, according to details presented Monday to MTA board members during a finance committee meeting.
Commuter rail fares would go up by as much as 4.6%, with monthly passes costing no more than $500.
The farebox increases would be the first since 2019 as the MTA avoided boosting such fees during the pandemic. Toll crossings would increase by as much as 10% without an E-ZPass or as much as 7% with an E-ZPass.
The MTA anticipates holding public hearings in June on the fare hikes, with the agency’s board potentially voting on the increases in July. Drivers and riders may start paying the higher tolls and fares in late August, Jai Patel, the MTA’s deputy chief financial officer, said during the finance committee meeting.
