MTA: No 2010 hikes planned

July 29, 2009 5:18:13 PM PDT
The recession is taking a growing toll on New York's Metropolitan Transportation Authority, despite a nearly $2.3 billion state bailout. But the giant transit agency said Wednesday it still expects to keep its promise to state leaders to get through 2010 without raising fares or cutting service.

The MTA said the bailout, cost-cutting and proceeds from recent fare and toll hikes will offset drops in tax revenue and ridership.

The agency says it expects to get less than half as much real estate tax income this year as it had last year - a projection that has worsened significantly in the last five months.

Projected fare and toll collections also are dropping, with ridership off more than 3 percent since last year.


NEW YORK AND TRI-STATE AREA NEWS

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