MTA may bump fare prices up 4% in preliminary budget plan for 2027
NEW YORK CITY (WABC) -- Tapping into the subway system costs $3, but now that price may be going up next year.
The MTA released its preliminary budget plan, and it includes a proposed toll rate hike. The goal is a 4% increase in revenue by 2027 and then again in 2029 across subways, buses, bridge and tunnel tolls.
If operating costs stay the same, a 4% bump to fares would come out to about an additional 12 cents per swipe or tap.
With an average daily ridership of four million people, that's almost $500,000 more in revenue for the MTA every day.
The MTA said these fare increases are meant to keep pace with inflation and only happen every two years, but the fare recently jumped to $3 in January of this year.
This is just a proposal. It has not been approved and will go through several rounds of hearings before it could become a reality.
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