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MTA official says agency has no plans to raise fares to solve budget woes

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Posted at 3:42 PM, Mar 25, 2020
and last updated 2020-03-25 15:42:43-04

NEW YORK — Though the MTA is dealing with a "financial calamity," there are no plans to hike fires to help the budget, officials said Wednesday.

The cost of MetroCards rose in April and will rise again as part of regular hikes, but there won't be extra hikes, according to MTA Chairman Pat Foye.

"There is no plan to impose or propose fare hikes beyond the 2 percent built into the financial plan," he said Wednesday.

With ridership down 87 percent and extra costs connected to the coronavirus, the MTA asked for a $4 billion bailout. Only 75 percent of normal service is currently running.

The MTA will lose $3.7 billion if ridership trends from this week continue for six months, Foye said when asking for the bailout. They also anticipate about $300 million in added costs associated with the response to the COIVD-19 outbreak.