Hopping the train could cost more next year but MTA officials
say cost savings
could keep fare hikes in 2017 and 2019 to
about four perecent each
NEW YORK – The Metropolitan Transportation Authority released its preliminary 2017 budget and four-year financial plan on Wednesday with a “projected” fare increase.
The MTA includes the Metro-North Railroad serving the Mid-Hudson Valley.
Officials said as a result of cost savings found, the MTA expects to be able to limit the previously announced 2017 and 2019 fare and toll increases to no more than four percent.
Agency President Thomas Prendergast said, though, that toll and fare increases are not carved in stone at this point.
“In November we will have an update to this financial plan,” Prendergast said. “We will see what our needs are and if we do have needs for a fare increase, the staff will make recommendations for hearings to be held and then decisions to be made by the board based on that input. It is a projected plan, as it has been for the past four years, a financial fare and toll increase as part of our financial plan. That is different than, ‘yes, we are going to have a fare increase’.”
The spending plan looks at recurring savings to nearly $2 billion by
2020.
