Transit agency: Fare hikes needed to cut deficit
(AP) - New York's transit agency is proposing fareincreases of more than 16 percent on monthly subway and bus passesand 9 percent increases on suburban trains.
The $2.25 single ride for subways and buses is not expected tochange.
The Metropolitan Transportation Authority planned to present thefare increase proposals at a board meeting Wednesday morning. Theywouldn't take effect until January.
The agency that runs the nation's largest mass transit system istrying to close an $800 million budget shortage this year,projected to reach $2.5 billion over the next four years.
The agency is considering putting a limit on its now-unlimitedmonthly passes. The passes would jump from $89 to at least $99 witha 90-ride limit or a $104 unlimited pass.