NEW YORK — As part of its preliminary 2012 budget, the New York Metropolitan Transportation Authority plans to borrow an additional $6.9 billion to make sure it can finish two large tunnel projects, despite debt concerns, and increase fares by 7.5 percent in 2013 and again in 2015, the AP reported.
The agency also plans to rein in retiree benefits and pressure unions for another year of wage freezes. A final version of the budget will be approved in December. The proposed fare increases will require public hearings and a separate vote. For the full story, click here.
N.Y. MTA to borrow $6.9B, hike fares
Despite debt concerns, the agency is trying to ensure it can finish two tunnel projects. Plans to increase fares by 7.5 percent in 2013 and again in 2015 are also in the latest budget proposal. A final version will be approved in December.
August 2, 2011
1 min to read
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