Shortly after Tom Namako of the New York Post had his report on potential facets of the MTA’s 2011 Fare Hike plan published, the MTA issued a statement. Here is what I received:
The rescue agreement reached with the Governor and Legislature last spring called for a 7.5% increase in revenues from MTA fares and tolls in January 2011, and despite an $800 million budget shortfall caused by deteriorating tax revenues, it has always been our intention to try to adhere to this agreement. As we have consistently said, the amount of the increase must be determined in the context of our overall financial plan, which is not finalized and will be presented to the MTA Board later this month. At that time the Board will be asked to authorize public hearings on the fare increase to be held in the fall. Only after those hearings will a final decision be made on both the level of the increase and how it will be implemented.
Click here for my initial analysis of the report.
xoxo Transit Blogger