NYC subway, bus, and railroad fares may increase this fall

Commuting through New York City is about to get more expensive. The Metropolitan Transportation Authority (MTA) proposed fare hikes that could take effect as early as Labor Day. The base fare for the New York City subway and bus trip would increase for the first time since 2015. The proposed fare hikes would affect millions of New Yorkers who use public transit daily. 

On Monday, the authority discussed fare and toll increases that could reach 5 percent. The cost of a single subway or a bus trip would go from $2.75 to $2.90. The 7-day MetroCard would cost $34 instead of $33, and the 30-day unlimited pass would go up from $127 to $132. The Long Island Rail Road and Metro-North Railroad passengers would also pay at least 4 percent more.

The MTA would hold six public hearings before a board vote in July. Once the fare hikes are approved, they will take effect by Labor Day. The fare increases would help the MTA to reduce its budget deficit by generating an additional $305 million a year in revenue. The last time New Yorkers had to pay more for public transportation was in 2019 when a weekly subway and bus pass went up from $32 to $33 and monthly from $121 to $127.

The New York City transit system has been significantly impacted by the COVID-19 pandemic. In April, the NYC subway system set a new pandemic record after carrying more than 4 million riders in one day, the most since March 2020. However, daily ridership still lags behind pre-pandemic levels. Last year, the MTA revealed that they will face a $2.5 billion budget deficit in 2025 that partially comes from low ridership. 

The proposed fare hikes are not as large as they could have been. A month ago, Governor Kathy Hochul and NY lawmakers reached an agreement on the FY 2024 state budget, which includes substantial investment into the MTA. The budget includes an increase in the payroll tax paid by the NYC business, which would bring the MTA about $1.1 billion, and a one-time payment of $300 million from the state.

Resources:

“Update on 2023 Fare and Toll Change,” (MTA, 2023)

“NYC subway, bus fare to increase to $2.90 by end of summer, under MTA proposal,” by Devin Gannon (6sqft, 2023)

“The MTA wants to increase subway fare by 5%,” by  Melissa Kravitz Hoeffner (Time Out, 2023)

“Here's How Much MTA Wants to Hike Fares This Fall,” by Andrew Siff (NBC New York, 2023)

“MTA pitches subway, bus fare hikes by Labor Day weekend,” by Stephen Nessen (Gothamist, 2023)

“M.T.A. Proposes Raising Bus and Subway Fares to $2.90 by Summer’s End,” by Ed Shanahan (The New York Times, 2023)

“How much will subway, bus fares cost with new MTA proposal? Fares could increase by Labor Day” by Eyewitness News (ABC7 NY, 2023)