NYC Subway, Bus Fare Hike Proposed By MTA

New York City's Metropolitan Transportation Authority is considering yet another fare hike. Two separate proposals have reportedly been floated, both of which will get under the skin of New Yorkers who are famously ready to grumble about any fare increase.

Either proposal would see the MTA increasing the price of a monthly MetroCard from $112 to $116.50, and weekly cards would go from $30 to $31. Under one proposal, single rides would jump from $2.50 to $2.75, with the bonus riders earn for loading money rising from 5 percent to 11 percent. The other proposal would maintain the $2.50 per-ride fee, while lowering the 5 percent bonus, sources told the New York Post.

Public hearings are expected in the coming weeks, and the MTA's board will most likely vote on the fare increase proposals next month. If the prices do indeed jump, it will be the fifth fare hike in about seven years.

“The MTA has worked hard to trim expenses and and keep future fare and toll increases at the rate of inflation, but we’re still developing the final proposal,” spokesman Adam Lisberg told the New York Daily News.

MTA Chairman and CEO Tom Prendergast said subway and bus fares are expected to ultimately jump 4 percent beginning in March, a lower rate than the initially planned 7.5 percent hike, though they are expected to rise again in 2017, NBC New York reported. Tolls for vehicles traveling on the MTA's network of bridges and tunnels are also expected to rise, but details of the agency's proposal for those hikes have yet to be released.

As recently as May 3, 2003, New York City commuters could buy a 30-day Metro Card pass for $63 and a single ride for $1.50. Those days are long gone, with the price of a subway/bus pass skyrocketing in recent years, most recently jumping from $104 to $112 for a 30-day card and $2.25 to $2.50 for a single ride on March 1, 2013.