NY transit officials: Budget gap could cause 15 percent hike

April 27, 2015 10:49 PM

55 0

New Yorkers could face a 15 percent fare and toll increase if the state legislature doesn't fund the Metropolitan Transportation Authority's $15 billion budget hole, a transit official said Monday.

The MTA's $32 billion, five-year capital budget plan, which will fund critical improvements to the city's subways, buses and trains, is only half-funded. If the agency is forced to fund the gap by issuing more debt, it would have to raise fares and tolls by 15 percent, MTA Chief Financial Officer Ro...

Read more

To category page

Loading...