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.

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