MTA officially proposes another rate hike

? To the surprise of almost no one, the MTA Wednesday officially proposed an 8 percent transit and bridge toll rate hike for next June followed by another 5 percent hike to take place in January of 2011.

The organization says the hikes are necessary due to rising fuel costs and a decline in real estate revenues. If the hikes are approved, they would be coupled with a previous increase that just took effect in March.

Prior to the announcement, both New York City Mayor Michael Bloomberg and New York Gov. David Paterson spoke out against the move. Gov. Paterson says another increase "is not wise," while Mayor Bloomberg says he will not support another fare hike unless the MTA tightens its belt.

The MTA wouldn't say whether the base subway and bus fare of $2 might go up to $2.25.

MTApushing for another fare hikeMTA

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