Subway fare hike seems imminent in 2019

Despite new lows in its performance, riding the subway is likely to become more costly in 2019. Metropolitan Transportation Authority Chairman Joe Lhota says a fare increase in 2019 is practically inevitable, unless the cash-strapped institution is able to harness funds elsewhere. Given that the city and state are failing to come to a consensus about how those funds should be raised, a means of timely alternate funding is looking unlikely.

At a meeting on Wednesday, Lhota admitted that there is no present scenario in which fares will not be raised for passengers in 2019, the Daily News reports.

Word of a looming fare hike isn’t unexpected. In July 2017, MTA Chief Financial Officer Robert Foran told board members that MTA officials were looking to continue a biennial fare hike in 2019 and 2021 to meet its long-term financial needs.

The most recent MTA fare hike occurred in March 2017, when weekly passes increased $1 to $32, and monthly passes increased from $116.50 to $121. The single ride fare, however, remained the same at $2.75.

Some MTA board members stand staunchly against a fare hike, arguing instead to accrue funds for the subway’s dire upgrades through a congestion pricing plan that has the lukewarm support of Mayor de Blasio.

Governor Cuomo—who, as a reminder, controls the MTA—is now exploring alternate means of funding subway upgrades, particularly through a value capture plan. Value capture revolves around taxing building owners whose properties increase in value as a result of being near transit. Those funds would then be funneled back into infrastructure improvements.

• MTA expects to raise fares next year as agency’s financial troubles continue [NYDN]
• MTA board opposes biennial fare hike, despite costly action plan [Curbed]
• All MTA coverage [Curbed]