In two months it will cost you more to ride the subway: the MTA approved fare hikes that will impact millions of commuters. Andrew Siff reports.
The MTA approved a round of price hikes Thursday that will affect subway and commuter train riders and drivers who use the agency's bridges and tunnels starting in March.
The board voted to hike base subway fares 10 percent -- from $2.50 to $2.75. Riders who load $5.50 or more onto their MetroCards will get an 11 percent bonus, double the bonus under the previous plan.
The MTA said the larger bonus offsets a bit of the base fare increase and makes it an effective hike of 4.1 percent, or 10 cents -- rather than 10 percent and 25 cents -- for customers who take advantage of it.
The cost of monthly MetroCards will rise nearly $5 to $116.50 a month and the price of weekly cards will increase from $30 to $31. The $1 fee for purchasing a new MetroCard remains unchanged.
The MTA also had considered keeping base prices the same and doing away with bonuses before voting at its meeting Thursday. The last time the subway fare went up was 2013 when the cost of a single ride rose from $2.25 to $2.50.
The board also voted to raise tolls on its bridges and tunnels -- by 4 percent for E-ZPass customers and 6 percent to 10 percent for cash customers, depending on the crossing they use. Most LIRR and Metro-North riders will see fares increase by 4.25 percent or less, the MTA said.
The approved fare hikes take effect March 22.
Asked what riders will get in return for the price increase, MTA Chairman Thomas Prendergast said dependability, reliability and "good repair."
The MTA says it has cut over $1 billion from its annual spending and plans to do more.
