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The Metropolitan Transportation Authority (MTA) has approved a fare increase of about four percent, raising the base fare to three dollars. This decision aligns with the MTA's pattern of raising fares by four percent every other year since 2009, with the exception of 2021 when fares were frozen due to the pandemic's impact on ridership. The fare increase is expected to take effect next August.
In addition to the fare hike, the MTA will implement a congestion pricing plan starting January 5, 2025. This plan will affect drivers, particularly those who do not use E-Z Pass, who will face increased charges. The MTA's Rider Advisory Group anticipated the fare increase, noting that it is a regular occurrence.
MTA Chairman Janno Lieber emphasized the importance of maintaining affordable transit in New York City, stating to WABC-TV, "Transit is one of the very few things that makes New York affordable." He also highlighted that 80 percent of the MTA's costs are related to personnel, pensions, and health benefits, necessitating the fare increase.
The fare hike still requires official approval at an MTA board meeting in March and by Albany. If Governor Kathy Hochul proposes an alternative funding source, the fare increase could be reconsidered.