Wednesday, December 19, 2012

New York MTA approves fare hike

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The Metropolitan Transportation Authority Wednesday approved fare hikes for New York City Transit subways and buses, Metro-North Railroad, and the Long Island Rail Road. Fares increase next March 1.

The move came even as current MTA Chairman Joseph Lhota prepares to step down from his post by week's end, in preparation for a possible bid to serve as mayor of New York.

In line with earlier expectations, fares on LIRR and Metro-North will rise an average of 9%. Base subway and bus rares will rise by 25 cents to $2.50. Monthly MetroCard passes will cost $112, up 8%.

MTA earlier had said it next expects to seek a fare hike in 2015. The increase is the fourth fare hike in five years.