MTA considering higher fare, toll increases as officials grapple with billions in budget deficits

NEW YORK (WABC) — The MTA is considering an increase to next year’s scheduled fare and toll hike as the authority faces budget gaps in the billions.

Chief Financial Officer Kevin Willens proposed an increase of 5.5%, rather than the planned 4% hike, during a budget presentation at the MTA Board’s monthly meeting Wednesday morning.

Willens cited a “dramatic drop in ridership” during the coronavirus pandemic as “the primary cause of the financial challenge we face.”

He said the MTA is facing revenue shortfalls in excess of $2 billion per year despite the agency still having unused federal pandemic relief money.

“Without new recurring revenue, the board will have to look to larger fare hikes, service cuts, and headcount reduction to close the remaining gaps,” Willens said.

The board will vote on its overall budget next month, but any fare and toll changes will not be approved until the MTA holds public hearings early next year.

Those hearings will determine how much of the increase should be shouldered by subway and bus riders, commuter rail riders, and drivers.

The agency is holding out hope that the Biden Administration, Gov. Kathy Hochul, or even Mayor Eric Adams will provide new funding.

Gov. Kathy Hochul has already publicly stated that fare hikes are off the table “indefinitely,” citing the transit system’s continued comeback from the coronavirus pandemic.

MTA Chair and CEO Janno Lieber said a fare hike is avoidable if lawmakers are able to help.

“What we’ve said is that Washington, City Hall, and Albany all have a role to play in figuring out how to get the MTA through this budget crisis,” Lieber said

MORE NEWS: 7 On Your Side’s Holiday Shopping Guide


* Get Eyewitness News Delivered

* More New York City news

* Send us a news tip

* Download the abc7NY app for breaking news alerts

* Follow us on YouTube

Submit a News Tip

Copyright © 2022 WABC-TV. All Rights Reserved.

Source link

Leave a Reply

Your email address will not be published.

Previous post Royal fans stunned by Prince William’s resemblance to Diana in sweet video comparing mother and son
Next post Do you live in one of Britain’s happiest places?
How Miles Teller Totally Broke Royal Protocol Meeting Prince William and Kate Middleton Mila Kunis Reveals Why She and Ashton Kutcher Don’t Close Bathroom Doors at Home With Kids Khloe Kardashian and Tristan Thompson Were Engaged for 9 Months Before Paternity Lawsuit Selena Gomez Speaks Out About Kindness After Hailey Bieber’s Tell All Interview Shane Warne’s child, Jackson, shares recordings of ‘harmful ladies despising’ powerhouse Andrew Tate: ‘I really do concur with a couple of the things he says’ Kate and William to greet Americans ‘sleeping on the streets’ amid US visit ‘He said “take your bra off”… I was 15’: Supermodel Kate Moss reveals in unflinching detail how she fled a photoshoot in tears after being targeted by fashion industry predator as a teenager How to get early access to the MultiVersus open beta – usnewspress Gunman kills 3 people in Indiana mall shooting, police say Top 10 sizzling sex secrets to Spice Up Your Sex Life Stellantis Announces Termination of Jeep Venture With China’s GAC Memphis police thwart potential mass shooting at arena: Officials 4 dead after argument between 2 groups leads to shooting at north Harris County apartment complex, sheriff says US soprano, offended by blackface, pulls out of Italy opera 10 Top Romantic Getaways in New Jersey Ricky Martin’s Attorney Says Allegations of a Sexual Relationship with His Nephew Are ‘Untrue’ 8 Best Semiconductor Stocks To Buy Amid a Global Chip Shortage : USA Le’Veon Bell Reflects on Lost Season With Steelers in Retirement Post Updates on Tiger Woods from Round 1 of The Open PETE ALONSOI’M DEALING W/ ‘PRETTY BAD PTSD’… Over March Car Crash