Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
MTA Will Reduce Fare Hikes Planned For 2015, 2017
By
Ben Yakas
Published Nov 13, 2013
Modified Nov 13, 2013
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
Ben Yakas
Published Nov 13, 2013
Modified Nov 13, 2013
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
After a big fare hike earlier this year, the MTA determined there would be two more sizable fare hikes in 2015 and 2017. However, it was announced in September that the MTA will have a $1.9 billion budget surplus over the next four years. Although the MTA was wary of giving hope to commuters then, they announced today that the planned fare hikes will indeed be reduced significantly.
Instead of 7.5 percent increases in 2015 and 2017, the fare hikes will now be 4 percent each year; this is expected to save riders and drivers a total $905 million between 2015 and 2017. MTA Chief Financial Officer Bob Foran said the agency's projected bottom line had improved by $791 million since July, when it released its budget for 2014-2017. “The expenses we’re facing in 2014 are one billion dollars less than what we thought we would be spending in 2010,” Foran told the MTA board.
Nevertheless, even with a surplus, the anticipated revenue loss from such cuts would have to be fortified by $500 million in “aggressive” cost-cutting, with $50 million less spending in 2013, followed by another $150 million in 2015 and $300 million in 2016. How they'll achieve that is unclear, although they noted that paramount will be striking a deal with Transport Workers Union Local 100 with no increase in compensation for workers—something the TWU won't be happy about, considering they want raises to recognize their efforts putting the transit system back together post-Sandy.
Tagged
fare hike
fare hikes
metrocard
money
MTA
subway
train
Ben Yakas
Ben Yakas is a former Gothamist reporter.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NYC officials call for Target boycott, say ICE staged at Marble Hill lot before shooting
Both Target and the lot's owner previously said there is no agreement with ICE.
By
Ryan Kost
and
Brittany Kriegstein
Published Oct 13, 2026 at 3:23 p.m. ET
'Insults, bravado': Legal standoff over Mamdani rent freeze grows fiery
The city’s top lawyer threatened to call his adversary, a former deputy mayor, to the witness stand.
By
David Brand
News
'Insults, bravado': Legal standoff over Mamdani rent freeze grows fiery
The city’s top lawyer threatened to call his adversary, a former deputy mayor, to the witness stand.
By
David Brand
NYC Council set to ban Central Park's carriage horse industry
By
Liam Quigley
22 NYC food pantries to start offering pet food
By
Karen Yi
Woman whose body was found in Brooklyn garbage can was strangled, medical examiner says
By
Charles Lane
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 .