MTA Plans Fare Hike and Expensive Train Car Purchase
The MTA has approved a nearly 4% fare hike for riders next year, bringing the cost to $3 per ride. This increase will be followed by another hike just two years later.
In addition to the fare increase, motorists will also face a $9 toll to drive into Midtown Manhattan, set to increase to $12 and then $15 in the future. The agency is also planning to spend $1.27 billion on 435 new subway cars.
While the new cars are an improvement, the purchase comes at a time when the MTA is already struggling financially. The cost per car is nearly double what Chicago Transit paid for a similar purchase.
The MTA has a history of high project costs, with capital-project costs per mile of track exceeding the global average. The agency has faced cash shortfalls in the past, leading to fare hikes and federal assistance.
Issues such as fare evasion, crime, and mental health challenges have contributed to decreased ridership and revenue. Instead of imposing tolls and fare hikes, the focus should be on addressing these underlying issues, negotiating better contracts with unions, and reducing waste.
MTA boss Janno Lieber has made some progress in cost containment, but major new projects should not proceed until the agency’s financial stability is guaranteed.
Ultimately, New Yorkers will support investments in new subway cars and potential fare hikes if they are confident in the MTA’s financial management.
