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Rail News: Financials
MBTA sets meetings on fare hike proposals
The Massachusetts Bay Transportation Authority (MBTA) has scheduled a series of meetings to gather feedback on proposed fare increases.
The agency is deciding between two possible fare options that would take effect July 1 — one of which would raise fares by an average of nearly 10 percent and generate $49.4 million in revenue, according to MBTA's fare comparison tool.
The other option would increase the average price 6.7 percent and bring in $33.2 million in revenue.
The fare adjustments are one part of a broader effort by the Massachusetts Department of Transportation's to close MBTA's $242 million structural deficit by cutting costs and improving operational efficiency, MBTA officials said in a press release.
The agency will hold 10 meetings on the fare changes followed by a board vote, which is expected in March.
Contact Progressive Railroading editorial staff.