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Like that needy relative who can’t seem to land on her feet no matter how much she insists she really, truly has a solid plan this time, the MTA may soon be asking you for some more money. About 15 percent more to be exact.
Speaking at a board meeting yesterday, the Authority’s CFO, Robert E. Foran, said that unless Albany approves the agency’s five-year, $32 billion capital plan, fares could soon be raised by 15 percent in order to close the funding gap. To put that in perspective, the latest fare increase, which went into effect March 22, saw monthly and weekly Metrocard prices go up by a mere 4 percent.
The potential 15 percent increase would be in addition to the planned 2 percent hike in 2017.
With subway delays and overcrowding on the rise, another fare increase would be a pretty bitter pill to swallow. Especially for anyone currently living off the L line. But if everything goes according to plan, the additional funding will be spent on upgrading, maintaining and expanding the system in order to address those problems in the future. They’re really gonna make it work this time, you guys.