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12/20/2007



Rail News: Rail Industry Trends

New York MTA adopts 2008 budget, approves fare increase


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Yesterday, the New York Metropolitan Transportation Authority (MTA) board signed off on a 2008 budget that includes a toll and fare increase, and enables the agency to begin tackling $6 billion in projected deficits during the next four years while increasing service.

To take effect in March, the fare increases are expected to generate an additional 3.5 percent in revenue. Subway cash fares will remain at $2, one-day passes will increase from $7 to $7.50; seven-day passes will go up from $24 to $25; and 30-day passes will rise from $76 to $81.

At MTA Long Island Rail Road and MTA Metro-North Railroad, most weekly and monthly tickets will increase between 3.76 percent and 4.25 percent. Ticket prices for one-way, round-trip and 10-trip intermediate travel will increase up to 7.7 percent.


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