MTA to Conduct Public Hearings: Proposal to Increase NYC Subway and Bus Fares to $3, Effective Next Week
MTA Announces Public Hearings on Proposed Fare and Toll Increases
The Metropolitan Transportation Authority (MTA) has scheduled three public hearings next week on proposed fare and toll increases for subways, buses, commuter railroads, and MTA tolls. The hearings will take place at NYC Transit headquarters at 130 Livingston St. in Brooklyn and will be hybrid, allowing attendance in person, on Zoom, or by livestream.
The first hearing will take place on Tuesday, Aug. 19, from 6 p.m. to 9 p.m. The second hearing is on Wednesday, Aug. 20, from 10 a.m. to 1 p.m., and the third hearing is from 5 p.m. to 8 p.m. Members of the public who wish to speak at any of the hearings must first register online or via phone at 646-252-6777.
Under the plan, subway and bus fares would increase by 10 cents, to $3 a ride. Express bus fares will increase by a quarter, to $7.25 from $7. The commuter rail CityTicket will go up by a quarter: to $7.25 from $7 during peak hours, and to $5.25 from $5 off-peak. On the Long Island Rail Road and Metro-North, ticket fares will increase by an average of 4.4%. Monthly and weekly tickets on the Long Island Rail Road and Metro-North will also rise by 4.4%.
The MTA funds 26% of its annual operating budget from revenue from passenger fares. The MTA's annual operating budget is $19.9 billion, distinct from the five-year capital budget. The fare hikes will not go into effect until January, and the MTA is set to vote this fall on a package of fare and toll increases.
Express bus fares will be capped at $67 for a seven-day period. The iconic yellow MetroCard will be phased out entirely in January in favor of the MTA's tap-to-pay OMNY system. The hearings provide opportunities for the public to comment on the proposed changes, which could take effect in 2026 if approved.
Attendees can also participate virtually, and those who wish to speak can register online or by phone. The hearings can be attended in person at NYC Transit headquarters at 130 Livingston St. in Brooklyn. For more information or to register, visit the MTA's website or call 646-252-6777.
- The proposed changes in the transportation industry, including fare increases for subways, buses, and commuter railroads, are expected to impact the finance sector, as the MTA funds a significant portion of its annual operating budget from passenger fares.
- The upcoming public hearings on the MTA's proposed fare and toll increases will provide a platform for business owners in the transportation sector to comment on the potential impacts of the changes on their operations, such as bus and taxi services.
- With the impending fare hikes, the finance industry may need to adjust its budget projections for the transportation sector, as the increased costs could affect the spending habits of commuters, potentially impacting other businesses in the industry like rail and transportation technology companies.
