The MTA will not raise subway and bus fares in August as planned, giving NYC commuters a reprieve, at least for now.
MTA Chair and CEO Janno Lieber said after the agency’s monthly board meeting on Wednesday that the fares require public hearings and board approval, which will not be done by August.
“Because of the nature of the public process, and we’re going to have the public process that we always do, it cannot and won’t be in August,” Lieber said. “But we’re going to initiate the public process, and it will happen, in all probability, sometime later in the year.”
The MTA’s budget includes, every two years, a projected 4% fare increase.
“That is the pattern that has been set since 2010,” Lieber said.
So far, the fare increase has only been approved in the agency’s budget. The board unanimously voted to pass the $20 billion budget during its monthly meeting on Dec. 18 last year.
The most recent fare hike occurred in 2023, when the base NYC Transit fare was bumped up 15 cents, from $2.75 to $2.90.
It is unclear right now how much the fare will increase later this year, or if the agency plans to make up for the lost revenue.
In the meantime, congestion pricing continues to bring in funding for transit improvement projects, including more accessibility at stations, electric buses, and structural enhancements. To date, the toll program has generated $219 million, keeping it well on track to meet its $500 million goal by the end of the year.
With the MTA’s new $68.4 billion 2025-2029 capital plan fully funded — which operates separately from the agency’s operating budget — other repair projects will help ensure more comfortable and reliable transit service. Per the plan, the MTA will install at least 75 miles of modern signals on various lines, add more charging stations at bus depots, and continue work on accessibility and general repair work in stations throughout the city.
