It Never Ends: MTA Hiking Fares Yet Again, Despite Being Days From New Congestion Tolls
Everybody’s favorite financial black hole in New York City – the MTA – is said to plan another fare hike just days before it institutes its congestion toll, according to a new report from the New York Post.
Spurring the hikes, the MTA approved a $1.27 billion order for 435 new subway cars, including 80 open-gangway models, and outlined plans to raise subway and bus fares to $3 per ride. Chairman Janno Lieber noted the fare increase, expected by late 2025, requires formal board approval next year.
Lieber said this week: “This is a good deal. We are way cheaper than other major world cities.”
Well, there you have it…
But the Post writes that critics slammed the fare hikes and new $9 Manhattan congestion toll starting Jan. 5, pointing to high spending. The MTA’s plan includes 4% fare increases in 2025 and 2027, potentially raising fares to $3.14, with congestion tolls rising to $15 over time.
City Council Minority Leader Joe Borelli fired back: “Chicago Transit bought 400 cars for $632 million pre-pandemic.”
He added: “So given the MTA’s incompetence factor, multiplied by their waste, abuse and mismanagement, paying only double a few years later seems par for the course. Congestion pricing was supposed to solve all these capital shortfalls, but apparently now it won’t.”
He continued: “Instead of rooting out waste and abuse within their bloated system, they keep the grift alive at our expense. This is pathetic, unacceptable, and New Yorkers deserve better.”
Tyler Durden
Thu, 12/19/2024 – 23:00
via ZeroHedge News https://ift.tt/Go4wxN5 Tyler Durden