[Update Below] Let's get ready to faaaaaarrrreeeeee hiiiikkkkkeeeee! Today is the day you've all been waiting for with bated breath—the MTA board is all set to vote this morning on plans to raise the price of a MetroCard. $2.50 base fares! $30 7-day and $112 30-day Metrocards! More expensive tolls! And you can watch all the excitement live from the comfort of your own desk!

Though MTA board members were lax in attending the many, sparsely attended public fare hike hearings they are all expected to show up today to have their votes be heard. And the whole thing, which starts at 9:30 a.m., will be streaming on mta.info right here. And for a total breakdown of the proposed hike, head here.

If and When the fare hike gets the okay it will kick in starting in March—which leaves months and months for New Yorkers to forget that future mayoral candidate Joe Lhota was in charge when it was approved.

Update: And the hike is approved. Starting in March next year your Metrocard is going to cost $2.50 for a single ride, will have a $1 replacement fee (y'know, to help the environment), and will cost $30 for a 7-day and $112 for a 30-day unlimited. On the, uh, plus side, you now will get a 5 percent bonus on purchases of $5 or more (currently you get a 7 percent bonus on purchases of $10 or more). The hike was approved unanimously.