"City Council Transportation Chair Selvena Brooks-Powers urged Gov. Kathy Hochul in a Monday letter to boost subsidies for offsetting future subway and bus fare increases in her forthcoming budget proposal, amNewYork has learned. In Brooks-Powers' missive, a copy of which her office shared first with amNewYork, she asked the governor to include an additional $633.6 million in her 2027 Executive Budget proposal rather than follow through on the MTA's planned hikes for subway and bus fares in 2027 and 2029."
"The fare increases are expected to raise $350 million in additional yearly revenue for the MTA. The money the agency generates from fares accounts for about a quarter of its approximately $20 billion operating budget. At the same time, the MTA is battling fare evasion that is costing the subways hundreds of millions of dollars a year in revenue. A Hochul spokesperson did not immediately return a request for comment."
City Council Transportation Chair Selvena Brooks-Powers requested that Governor Kathy Hochul include an additional $633.6 million in the 2027 Executive Budget to offset planned subway and bus fare hikes scheduled for 2027 and 2029. The request does not change the imminent increase from $2.90 to $3 per ride taking effect when the budget is announced in January. The MTA expects fare increases to generate about $350 million annually, with fare revenue comprising roughly one quarter of its approximately $20 billion operating budget. The agency also faces significant revenue losses from fare evasion. Brooks-Powers said higher fares could strain riders’ ability to access jobs, school, and healthcare.
Read at www.amny.com
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