The MTA board raised transit fares again today. Thanks to Andrew Cuomo's funding bait-and-switch, straphangers can expect the hikes to keep coming.
In 2015, Cuomo pledged $8.3 billion in state funds for the MTA five-year capital program. But Cuomo delayed $7.3 billion of that contribution indefinitely, saying the state would come through after MTA resources were “exhausted.”
Months later, Cuomo and state legislators raised the MTA debt ceiling, to allow for $14 billion in additional borrowing. So the MTA can go deeper into debt while Cuomo puts off the contribution he promised.
MTA debt has grown substantially during Cuomo's time in office, putting pressure on the agency's budget that pushes fares ever upward.
Under the plan approved today, the $2.75 base fare will remain the same, but on March 19 the cost of 7- and 30-day MetroCards will go up, and multi-ride bonuses will drop. It will be the sixth fare hike since 2008, according to NY1.
On fare hike day, straphangers should remember that Cuomo broke a promise that would have helped keep money in their pockets.
