MTA

Here's How Much MTA Wants to Hike Fares This Fall

The new fares, if approved by the MTA board later this summer, should be implemented across the transit system by Labor Day

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Like your next train, an MTA fare hike is fast approaching.

The increases to subway fares come at a time of record ridership. in April, the transit agency saw its first 4 million rider day since the pandemic.

On Monday, top transit officials revealed new single ride fare proposals at an MTA finance committee meeting. The proposed price hike is jumping rates from $2.75 to $2.90. Monthly rates would go up from $127 to $132.

The price increase is a step toward $3 fares, which subway riders could see by 2025.

The MTA calls the increase a "reasonable" hike. It's also the first increase in nearly four years and moves the MTA back toward a biennial fare hike timeline.

Commuter rails will also see a slight uptick by about 4%-5%

In terms of toll hikes this year, the agency is leaning towards a split option: 6% for E-ZPass (tolls that are now $6.55 would become $7) and 10% for Mail at home credit card.

"That's good news. It will not be as high as it could have been," said MTA Board Member Andrew Albert.

For months, commuters had been bracing for an even more severe increase thanks to ridership that has never fully recovered from the pandemic. But a state-funded bailout provided enough money that the fare and toll hike only needs to produce $300 million to balance the transit authority's budget.

Public feedback meetings will be held in June that customers can attend virtually and in person before the MTA Board will vote on the fares the following month. Dates for the public meetings will be announced in the coming days.

Once approved, the new fares will be implemented for straphangers by Labor Day, officials said at Monday's meeting.

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