Just what you need during tough economic times: higher subway, bus, and LIRR train fares. This'll go over like news of a sick passenger on a subway train. There will also be cuts in services, as well as a freeze on certain improvement projects.
It sounds like MTA is in big trouble—in need of a transit rescue package—and commuters are being asked (forced) to bail them out. The base subway fare in NYC would rise to $2.50 (up from $2). A 30-day MetroCard would cost $103, up from $81.
Whoa. Bad news for subway riders that's for sure. Here from the New York Times:
The reason I think this is silly and that it will not provided the needed revenue, is that if it will now cost 2 of my friends and I a total of $7.50 to get a mile away on the subway or $8 to get a mile away in a car – you can be sure we’ll choose the car…