Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
MTA Subway and Bus Fare Hike in 2010?
By
tien mao
Published Jun 6, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
tien mao
Published Jun 6, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
If the report released yesterday by the city's Independent Budget Office is true, it could get a lot more expensive to ride the MTA subways and buses in the future. The IBO believes that the MTA has to increase its revenues by 20% by 2010. That means subway and bus fares could go up at least 20% by 2010, making a single ride $2.40. The worst case scenario - where rates for other revenue sources are not increased - has subway and bus fares jumping to almost $3. The price of a monthly metrocard would would jump from $76 to $112. A weekly card would go from $24 to $36. The last increase in fares was in 2004.
Why the drastic increase in subway and bus fares? Years of borrowing money for improvements in the system has resulted in mounting debts. The agency faces projected deficits of $800 million in 2008, $1.4 billion in 2009, and $1.8 billion in 2010. For 2007, there is a projected surplus of $270 million. In previous years, the MTA has often projected a deficit (though you can never trust them), only to have a surplus at the end of the year because of real estate tax revenue that was more than projected. This may change in the coming years, according to the IBO's report (full .pdf report).
Gean Russianoff of the Straphangers Campaign, who asked the IBO to review the MTA's budget, said that Mayor Bloomberg's congestion pricing plan could keep the fares from rising so drastically. "We call on Gov. Eliot Spitzer for help, especially in pressing for Mayor Michael Bloomberg's congestion pricing proposal to help bring billions to the transit system."
The MTA is to announce its budget plans next month, but Executive Director Elliot Sander has already asked departments within the agency to cut 4% from their budgets. The Post mentions some other ideas from the IBO that could generate revenue: 1/8% increase in sales tax (additional $236 million), include co-ops in the mortgage-recording tax (additional $140 million), raising state aid to the maximum level (additional $444 million).
Photograph by Triborough on Flickr
Tagged
bloomberg
bus
congestion
eliot spitzer
Elliot Sander
Executive Director
flickr
independent budget office
mayor
mayor bloomberg
Mayor Michael
mayor michael bloomberg
michael bloomberg
money
MTA
office
photos
poll
polls
real estate
spitzer
straphangers campaign
subway
subways
Take Our Poll
the city
the future
The IBO
The MTA
the post
tien mao
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NYPD: Officer shot, injured knife-wielding woman during ‘chaotic’ night at Queens home
The woman is in stable condition, police said, but several people were stabbed.
By
Ryan Kost
Published Oct 24, 2026 at 8:35 a.m. ET
3 slates vying to run Jersey City school board as city stares down major tax hikes
The incumbent slate, formerly backed by the teacher's union, lost that influential support over public arguments and controversies.
By
Michael Sol Warren
News
3 slates vying to run Jersey City school board as city stares down major tax hikes
The incumbent slate, formerly backed by the teacher's union, lost that influential support over public arguments and controversies.
By
Michael Sol Warren
5 men charged with trespassing in 2 Manhattan manhole cases
By
Charles Lane
6-year-old girl breaks leg after getting hit by falling bricks in Queens
By
Charles Lane
Mamdani extends ban on permits for new street fairs due to NYPD overtime
By
Carol Chen
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .