The Metropolitan Transportation Authority Board adopted a slate of fare and toll changes that hold the base subway, bus and paratransit fare unchanged at $2.75, while yielding a much-needed increase in MTA revenue of approximately 4 percent, below the rate of inflation. The 30-day unlimited ride MetroCard will increase by 5 percent, to $127, and the 7-day unlimited ride MetroCard will increase 3.1 percent, to $33.
Earlier today, MTA leaders announced critical cost reduction and reform initiatives, which can be found here. Earlier this week, the MTA released new data showing a dramatic improvement in service. On the subway, weekday on-time performance in January was 76.7 percent, marking a significant increase from the January 2018 on-time performance of 58.1 percent. Weekday major incidents – unplanned incidents causing 50 or more delays – were also drastically down last month, with 52 compared to 105 in January 2018.
The fare and toll changes, which are below the annual inflation rate of 2 percent and in keeping with the MTA’s past practice of regularized, limited, predictable fare increases every other year, are expected to bring an additional yearly revenue of $336 million. The increase comes on the heels of comprehensive reform and cost cutting proposals released this morning.
“This additional funding is critically important to the MTA but it is not enough to allow us to fund our capital plan or close our operating deficit,” said MTA Acting Chair Fernando Ferrer. “We’ve seen dramatically improved performance of our system recently and in order to keep that up we are making major internal reforms, seeking additional recurring revenues from our state and city partners, and urging the legislature to pass the governor’s congestion pricing proposal.”
New fares go into effect April 21, and new tolls go into effect March 31.
The new fare structure eliminates the 5 percent bonus discount that is applied to MetroCard purchases of $5.50 or more. Express bus fare increases to $6.75. The 7-Day Express Bus Plus MetroCard will be $62.
