FILE © Richard B. Levine
NEW YORK (77WABC) — The MTA is considering an even greater increase to next year’s scheduled fare and toll hikes to offset the authorities debt, which is in the billions.
MTA Chief Financial Officer Kevin Willens has proposed an increase of 5.5%, rather than the planned 4% hike, during a budget presentation at the MTA’s monthly meeting Wednesday. Willens cited a “dramatic drop in ridership” during the coronavirus pandemic.
He said the MTA is facing revenue shortfalls in excess of $2 billion per year despite the agency having unused federal pandemic relief money. The board will vote on its overall budget next month.
Any fare and toll changes will not be approved until the MTA holds public hearings early next year.
