Unless lawmakers can come up with new ways to fund the MTA, the transit agency might be forced to raise its base fare to $2.60 and increase the cost of unlimited monthly MetroCards to more than $100, according to a new study. The report reveals that even if the MTA implements far-reaching service cuts this year and ups fares by the planned 7.5 percent next year, it would still fall short of balancing its budget without additional funding.

According to analysis by the Drum Major Institute for Public Policy, due to the agency's budget woes, a 15 percent fare hike might be on the way. Such an increase could turn out costing a family of four an extra $2,300 in fares per year for poorer service. To avoid such a steep increase, the think-tank suggests lawmakers revive Mayor Bloomberg's congestion pricing plan, which calls for charging motorists a fee to drive in certain areas of Manhattan at peak times, and using the cash to fund mass transit.

The congestion pricing plan fell apart in Albany last year, where it was replaced with a payroll tax that has failed to net its anticipated revenue, putting the MTA $400 million in the hole. According to the Daily News, congestion pricing doesn't have much of a chance of making a comeback with state lawmakers.