[Update Below]The MTA is currently entrenched at MTA Headquarters deciding on our 2015 fare hikes—you can watch the proceedings here. We already know what some of them will be: a weekly MetroCard will go from $30 to $31, and a monthly will go from $112 to $116.50.

But the big question is whether they will raise the base subway/bus pay-per-ride fare from $2.50 to $2.75. As you can see from the two main proposals laid out below, there are some subtitles to any possible increases.

It was reported earlier this month that board members were leaning toward increasing the base amount. We'll update the post once the voting is concluded. Which may take awhile.

Update: The MTA board has voted unanimously to pass the first fare hikes proposal—meaning the base subway/bus pay-per-ride fare will indeed be raised from $2.50 to $2.75. "It's not ever easy to raise fares, and it's always going to hurt a group of people. But the health of the system is paramount," said board member Andrew Albert.

MTA board members were very pleased that they were able to pass a fare hike that was half of last year's hike (as one member put it, these are "relatively modest increases under the circumstances"), but they also were very nervous about the $15 billion budget gap and how that could affect fare hikes in the years to come.

"I'm pleased we're able to hold the line while issuing a cautionary tale to the policy makers of this state," said board member Allen Cappelli. "Keep your eye on this capital program, because gargantuan increases could come about if a sane way of funding mass transport isn't found."

So to lay out all the changes:

  • The base subway/bus pay-per-ride fare will indeed be raised from $2.50 to $2.75

  • That comes with an 11% bonus for purchases over $5.50, meaning the effective fare is $2.48 for anyone who purchases in larger increments

  • Single ride tickets will increase from $2.75 to $3.00

  • Weekly MetroCards will go from $30 to $31

  • Monthly MetroCards will go from $112 to $116.50

  • Express bus fare will increase from $6 to $6.50 (with cash) and from $5.71 to $5.86 (with MetroCard)

  • 7-Day Express bus MetroCards go from $55 to $57

  • Access-A-Ride fares go from $2.50 to $2.75

The fare hikes will go into effect starting March 22nd.