In the biggest proposed fare hike since 2015, the MTA is seeking to increase subway and buss fares from $2.75 to $2.90 per ride.
Express bus fees for journeys from the outer boroughs to Manhattan would jump from $6.75 to $7 per ride. Measured in the context of a weekly-pass fare increase, this would increase subway and bus costs from $33 to $34 and bus fees from $62 to $64. A thirty-day unlimited MetroCard would jump by five dollars to $132.
Express bus fees from the outer boroughs to Manhattan would jump $6.75 to $7 per ride.
The fare hikes will be either praised or contested in a public hearing in June, approved or denied in July, and will take effect by Labor Day in September right after Labor Day, according to the MTA plan.
In a boon for fans of the unlimited weekly ride deals OMNY rolled out, these seven-day swipe bonuses will be expanded from the exclusive province of Monday-to-Sunday to any seven-day consecutive period.
The hikes are intended to raise four percent in revenue for the underfunded agency, a compromise from the five-and-a-half percent increase Governor Kathy Hochul initially sought. The one-and-a-half percent difference will be made up by a $65 million dollar infusion to the agency included in the state budget.
The MTA recently revealed that fare evasion led to a $690 million budget shortfall for the agency in 2022. That figure is expected to jump to $1 billion in 2023.