MTA may need massive 30% fare hikes to avoid ‘fiscal cliff’, Comptroller DiNapoli warns

By Ben Brachfeld Posted on November 29, 2022

The MTA would need to raise its fares by nearly 30% to avoid a looming “fiscal cliff” and return to a pre-pandemic financial equilibrium, State Comptroller Tom DiNapoli charged in a new report.

A pair of 4% fare increases scheduled for 2023 and 2025 — along with $100 million in unspecified savings and a $915 million annual debt service plan proposed by the MTA — are not enough to bring the beleaguered authority back to its 2019-level farebox revenue.