The Metropolitan Transportation Authority added to the blow of this year's fare increase by revealing that there will be two more in 2015 and 2017. But after the MTA announced a $1.9 billion budget surplus over the next four years back in September, it has elected to reduce the fare hikes drastically.
The 7.5 percent fare increases have been nearly cut in half in favor of four percent increases, a move expected to save riders $905 million. The decision was also fueled by their projected bottom line figure improving by a pretty significant $791 billion since releasing its budget plan for 2014 through 2017.
So riders will still have to pay more, just not as much.
[via Gothamist]
