MTA official warns of more cuts, fare hikesPosted: Updated:
(AP) - An official for the MetropolitanTransportation Authority says additional service cuts or fareincreases might be needed because of a sharp decline in state taxrevenues. The chief financial officer of the authority, Gary Dellaverson,cited the new projection Monday. He refused to give details of whatis being considered but says to balance the budget the MTA couldmake deeper cuts or increase fares a second time before the end ofthe year. A state bailout of the authority that is backed by Gov. DavidPaterson is bogged down in the Legislature.