Subway fare increase may hit New Yorkers

BY THE ASSOCIATED PRESS

Published: November 21, 2008

NEW YORK — The cost of public transit in New York City would skyrocket next year — even as bus and subway service is reduced — under a plan unveiled Thursday by the nation’s largest such system.

The Metropolitan Transportation Authority said it needs to raise fare revenue by 23 percent by June in order to plug a yawning budget gap worsened by the global financial crisis.

The details of just which fares will rise, and by how much, are still being worked out. But if applied across the board, they would raise the cost of a single bus or subway ride from $2 to nearly $2.50.

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