MTA to unveil Monday its proposals for next year's subway fare hike
The MTA is set to announce today its proposals for next year's fare hike, which would be the fourth increase in five years.
If the hike is approved as expected, it is likely that it would go into effect on March 1.
The MTA will hold eight public hearings throughout November to finalize the plan, which the board will vote on in December.
The agency is reportedly mulling over four options, each raising $232 million a year through fare hikes and reductions in pay-per-ride bonuses.
In one proposed plan, the MTA would hike the price of a 30-day MetroCard to $125 from $104, increase the seven-day MetroCard to $34 from $29, and cut the pay-per-ride bonus to 5% from 7%, the Daily News reported.
The MTA didn't confirm the report was accurate, however.