MTA Chair Janno Lieber warned that fares on subways and buses could rise to over $3.50 per ride without an infusion of funding from Albany in the state budget, which is due on Saturday.
Lieber, at the monthly MTA board meeting on March 29, cited a November analysis by State Comptroller Tom DiNapoli in saying that without an infusion of recurring funds, the transit authority could be forced to hike fares “north of 80 cents.”
That would bring the fare for subway and bus rides to $3.55, well beyond the already-controversial pair of 5.5% fare hikes scheduled for this year and 2025, and pose a significant financial strain on millions of riders.