NYC Subway Rides May Cost $2.90 Next Year in Proposed Fare Hike
- MTA’s potential fare increase would be its first since 2019
- MTA may boost single fare by 5.5% in 2023 to close budget gaps
A commuter swipes a metro card in New York City.
Photographer: Sarah Blesener/BloombergNew York’s Metropolitan Transportation Authority may boost fares on subways, buses and commuter rail lines by 5.5% next year, the first time the transit provider has implemented such a hike since 2019.
The MTA is the largest mass-transit system in the US and faces a potential $3 billion budget deficit in 2025 as weekday ridership has plateaued to about 60% of pre-pandemic levels. To help raise additional funds, the MTA may increase fares by 5.5% in 2023, higher than the anticipated 4% boost, Kevin Willens, the MTA’s chief financial officer, said during the agency’s monthly board meeting on Wednesday.