The Metropolitan Transportation Authority (MTA), North America’s largest transportation network, recently released its July Financial Plan. The plan includes balanced operating budgets for 2025 and 2026 and narrowed deficits in 2027 and 2028.
The agency has reduced its deficit by $198 million over the last year. For fiscal year 2027 and 2028, the deficit will total $98 million while the projected deficit for fiscal year 2029 is $428 million.
The MTA also proposed a series of fare and ticket policy changes.
The base fare for subways, local buses, the Staten Island Railway and Paratransit would increase to $3; express bus fares would rise to $7.25; single-ride tickets on subways and buses will increase to $3.50; and reduced-fare would increase to $1.50. Fare would be capped weekly at $67 for unlimited express riders, $36 for subway and local bus rides, and $18 for reduced-fare customers.
The fee for a new OMNY card would increase to $2.
The fare for commuter railroads would increase up to 8 percent with no fare increasing more than $2. Monthly ticket fares would not exceed $500.
Tolls for bridges and tunnels would increase by approximately 20 cents.
Coin collection would be eliminated.
The MTA board of directors must approve the changes.