Fares Are Going Up, But Might Be A Little Easier On The Pocketbook

In July the MTA said it expected fares and tolls to increase by about 15% by 2017, but now they’re saying it will only be about half that bad.

Yesterday the MTA announced that a “combination of increased cost cutting, lower expenses, and higher operating revenues will allow the agency to reduce by almost half the previously projected fare and toll increases scheduled for 2015 and 2017,” going from 7.5% to 4%.

They said in a statement that they’re increasing their savings goals by $200 million per year by 2017 from “initiatives such as further administrative consolidations, workers compensation efficiencies, energy efficiencies, and additional efficiencies in procurement and inventory control.”

Remember that this isn’t all set in stone — the MTA warns that the health of the regional economy and open labor agreements present significant risks to their finances.

And what exactly that 4% will work out to in a MetroCard increase remains to be seen. As they do before fare hikes, the MTA will host public hearings prior to the next change in March 2015, giving you a chance to air your grievances.