The Metropolitan Transit Authority voted on Thursday to raise the price of single-ride Metrocards on subways and buses by an additional 25 cents, making a trip anywhere in New York City cost $2.75. When will the madness stop?
The new fares will take effect on March 22nd. Do you have a monthly Metrocard? Expect to have your monthly fees go up by $4.50 a month so that you'll be paying $116.50 to be shuttled around. As the New York Times reports, these fare upticks are all part of a plan to raise prices every two years . . . until the end of time, we suppose? The fare increase is part of "long-term revenue plans." From the Times:
The subway system has recently seen record ridership, with more than six million customers on some days, but the authority is facing questions over how to pay for long-term improvements to the infrastructure. The authority's proposal for a $32 billion five-year capital plan has a $15 billion funding shortfall, and the board is seeking help from state and city officials to cover it.
The bonus plan that helps riders with a little something extra on their card will now increase from a 5 percent bonus to an 11 percent bonus, according to the Times. But you must at least put $5.50 on a card to see the benefit. Nice.
[Image via AP]