MTA's proposed increase in bus and subway fares for the summer has been scrapped.
Updated: No Subway and Bus Fare Hike in August!
Cheers, commuters! The MTA's proposed bus and subway fare increase, initially set for this August, has been put on hold. So, at least for a bit, you won't have to dig deeper into your pockets for those rides.
Since 2010, the MTA has implemented a 4% fare hike every two years. This summer, it was expected that single rides would climb to $3. But, we ain't outta the woods just yet when it comes to fare spikes in 2025.
MTA Chair Janno Lieber dropped the word during a board meeting on June 25th. He explained that due to the public process involved, the fare hike just can't happen in August. However, he assured that the process will commence - possibly sometime later in the year.
What's going on with the bus and subway fare hike?
Before the fare change kicks in, the MTA plans to host public hearings, but the details about them, like a timeline, aren't known just yet. It's possible that the increase might be more than the usual 4%, but that still isn't crystal clear.
This news comes hot on the heels of reports that the MTA might need to tweak its improvement strategy due to federal withholdings.
In a statement, New York State Comptroller Thomas DiNapoli warned that federal decisions could jeopardize recent progress, potentially forcing the MTA to increase its debt or hold off on projects.
So, will this affect the transition from MetroCards to OMNY later this year? Only time will tell.
Last year, Lieber expressed enthusiasm for OMNY, stating that it's not just faster and more convenient, but it also opens up possibilities for discounts and promotions, making for a much more dynamic system. Let's hope that payment issues are ironed out before the switch, considering that OMNY users have encountered multiple charges for a single ride.
Keep your eyes peeled for more developments on this story!
Get My OMNY Card Ahead of the MetroCard Swan Song
The proposed increase in bus and subway fares, initially intended for August, has been postponed due to the public process involved. This could potentially lead to an alteration in the MTA's improvement strategy, as reported recently, which may in turn impact the transit industry's finance. In light of this, the future pricing of the OMNY payment system, set to replace the MetroCard later this year, remains uncertain. Therefore, it's crucial to stay informed about any developments in this unfolding situation.
