MTA OKs 7% Toll Increase For April
The Metropolitan Transportation Authority approved a toll increase of at least 7% that would start in April.
The toll hikes will raise $178 million over two years and help soften reduced ridership on the MTA — down close to 70% compared to last year due to the coronavirus pandemic.
The MTA was given $8 billion in federal aid last year in addition to borrowing $3 billion to offset a significant budget deficit. The transit agency is hopeful to receive another $6 billion in President Joe Biden's relief package.
Consultants for the MTA estimate that it may not be until 2024 when ridership exceeds 90% to pre-pandemic numbers.