.

MTA Fares Expected to Rise 35 Percent by 2015

A new report from the state comptroller's office shows that the MTA's scheduled toll and fare hikes are expected to rise faster than inflation.

MTA fares and tolls are expected to increase 35 percent by 2015 at a rate double that of inflation, according to the New York Post.

The new report, which was conducted by state Comptroller Thomas DiNapoli, looks at the MTA’s fare increases in 2008, 2009 and 2011 as well as those scheduled for 2013 and 2015 and the rate of inflation.

“Fare and toll hikes continue to outpace inflation, placing a burden on working men and women across the metropolitan region,” DiNapoli told the Post.

The 2008 fare increase matched the rate of inflation at around 3.9 percent, but the next year saw a 10 percent hike in fares and tolls, which was followed by a 7.5 percent price increase in 2011.

According to DiNapoli’s report, fares had risen 21.4 percent in four years, while inflation rose only 8.9 percent during the same time.

On the bright side, the MTA does have plans to cut costs and save $213 million by 2016, according to the comptroller’s office.

MTA Chairman Joseph Lhota, upon reading through the report, called it “thoughtful and thorough.”

“[The report] recognizes the significant financial challenges the MTA faces in the near term, the aggressive steps we have taken to meet them, and our ongoing efforts to address longer-term challenges, including identifying funding sources for our 2015-2019 capital program,” Lhota told the paper.

Jaime October 05, 2012 at 03:26 AM
Sure! After the MTA is done sucking the financial blood of millions of hard working New Yorkers from 2012 to 2015, they will then "cut costs and save $216 million by 2016. It is unfortunate that the MTA is unable to do so before they raise fares. But then again, has the MTA ever been able to plan responsibly? It is amazing how New York commuters continue "to take it on the chin" year after yea,r without saying a word.
Harriet Brown October 05, 2012 at 07:48 PM
I wish we could re-enstate the Commuter's tax.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something