The New York Metropolitan Transportation Authority (MTA) unveiled proposals that would increase fares and tolls to raise additional, vitally needed revenue to support the New York region's transportation system.
The increases come during an era of successful and unprecedented MTA management actions to cut controllable expenses. In fact, the MTA will spend less in 2012 on its controllable costs than it did in 2011. Year-over-year controllable costs are lower by 0.3%.
“Costs that the MTA does not exercise control over, namely those for debt service, pensions, energy, paratransit, and employee and retiree health care, continue to increase beyond the rate of inflation,” said MTA Chairman/CEO Joseph J. Lhota. “We are grappling with long-term measures to reduce these frustrating and difficult non-discretionary expenses, but today, they are the drivers of the need for a fare and toll increase.”
The fare and toll proposals will be the subject of a geographically diverse, multi-platform public review process that starts today and lasts through mid-December. The proposals will be subject to modification after the public review process and will be considered for adoption by the MTA board at its December 19 meeting. The new fare and toll rates would go into effect on or about March 1, 2013.
“The public will have significant input into our decision-making process. In the spirit of transparency, the public will assist in shaping our fare policy,” said Chairman Lhota. “These proposals have been designed to balance our need for revenue with public involvement. We need to hear from the public. Feedback evaluating the specific alternatives we've put forward is particularly useful, but we value all our customers' input, and we'll consider changes to our proposals based on what we hear and read.”
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