The Metropolitan Transportation Authority in association with Surplus? What Surplus? Industries is proud to present its latest wide-release feature, which will hit subway stations across NYC in the spring of 2015: Fare Hikes 2015: Swiping To Exhale.
MTA Chairman and CEO Tom Prendergast says that the plan is to increase subway and bus fares by four percent beginning in March. It's not clear yet exactly how the increase will affect base fare, weekly and monthly Metrocards, commuter train passes, or pay-per-ride customers, but we expect to learn much more when the full teaser trailer (following public hearings and a board vote) is released in December.
This will be the much-anticipated sequel to last year's unbeloved Fare Hikes 2013: Your Love Keeps Taking My Base Fares Higher, which itself was a sequel to Fare Hikes 2011: I Know What You Paid Last Summer.
Of course, this all should come as no big shock: the MTA determined last year that there would be two more sizable fare hikes in 2015 and 2017. After it turned out there was a $1.9 billion surplus, they were able to lower those amounts from 7.5% each to 4% each.
If the plans largely stay the same as they were earlier this year, then we should expect the MTA to raise the fare of subways and buses to $2.75 in 2015, and $3.00 by 2017. Monthly Metrocards will most likely go from $112 to $120 and then rise again to $129. The fare hikes, which are ostensibly needed to cover pension plans, debt payments, healthcare costs, and a lot of repairs and upgrades, will increase revenue for the MTA by $424 million in 2015, and $520 million in 2017.
That's right: the MTA, like Marvel Studios, has mapped out a wide array of adventures for straphangers to enjoy in the coming years. We still have Fare Hikes 2017: In The Subway Tunnels, No One Can Hear You Kvetch to look forward to.