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New York MTA May Reduce Capital Spending to Cover Labor Expenses

The Metropolitan Transportation Authority, the largest U.S. transit system, may reduce capital spending and cut payments to its health-care fund to pay projected labor costs through 2018, officials said.

Planned increases on fares and tolls remain unchanged at 4 percent in 2015 and 2017, according to documents released today at the agency’s monthly board meeting in Manhattan.