The Metropolitan Transportation Authority is expected to delay planned fare increases for bus and subway rides until at least 2022.
Bloomberg News and the New York Daily News both quoted Larry Schwartz, finance committee chairman for the MTA, as saying on Monday that the time is not right with the city’s economy still reeling from the Covid-19 pandemic and mass transit ridership in the city still far below pre-Covid levels.
Single swipes with MetroCards now are $2.75. The MTA has been on a schedule where it raises fares and tolls on its bridges and tunnels to increase revenues by 4 percent every two years.
The last increase to the base fare was in 2015. Back in January the board voted to increase tolls, a move that took effect in April.
It was expected to raise an extra $62 million in revenue this calendar year and $116 million more next year. While bus and subway fares did not increase, the MTA openly stated it was reserving the right to do so later this year.
— Michael Gannon