Subway Fares to Increase if De Blasio, Cuomo Don’t Pony Up to MTA: DiNapoli
(DNAINFO) Trevor Kapp — The city and state need to reach deeper into their pockets to prevent the MTAfrom jacking up fares and tolls even further, according to a new report by State Comptroller Thomas DiNapoli.
The MTA’s ability to limit future fare and toll hikes to just a 4 percent increase will depend on how much the city and state contribute to the MTA’s capital budget, the report says.
“If the MTA doesn’t get the funding it needs, the MTA will have to choose between cutting the size of the capital program or borrowing more, which could lead to less reliable service or higher fares and tolls,” DiNapoli said.
The MTA still faces a $9.8 billion funding gap, which the MTA has said can be bridged if the state increases its contribution to the program by $7.3 billion through 2019. The city would need to fork over $3.2 billion, which is $2.5 billion more than currently budgeted.