Mind The Budget Gap: MTA To Raise 2005 Fares

The MTA announced that yes, in fact, fares will go up next year because there are huge gaps in the operating budget - not to mention the $15 billion gap in the capital plan. The MTA will raise the price of monthly Metrocards from $70 to $76 while weekly cards will go from $21 to $24; the base price will stay the same until 2007, or so the MTA hopes. But before things can get better, the MTA says the budget gap will get worse in 2006 and 2007. Gothamist hopes that by 2006, everyone will be in flying, fuel efficient cars.

The NY Times' Michael Luo looked at how the MTA's huge budget problems are sort of inevitable; there's a lot of questioning as to where that money is coming from - us, the State, overturned armor trucks...