A deal is in the works and it's good news for millions of subway and bus riders, who were facing a much more extreme fare increase starting in July.

And the service cuts are out. In other words, there will be no service cuts to subway and bus services.

Fare increases will be 10% down from 23% and there will be NO service cuts because the Democratic leadership of the New York State senate announced that there's a deal afoot for money for the MTA.

According to the Daily News, "Sen. Majority Leader Malcolm Smith emerged from a closed-door meeting saying he believes he has the final two Democratic votes necessary to pass an MTA bailout plan over a wall of Republican opposition.

This could mean that commuters can expect fare and toll hikes of roughly
10 percent—down from the projected 23 percent expected previously.

According to WNBC: "The
rescue package does not include funding for MTA capital improvements
and repairs, nor does it address the additional $621 million shortfall
MTA executives announced last week."