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The MTA is finalizing its 2007 and plans to vote on it by Christmas. The budget will hold the fares for subway and buses at $2.
The final financial package, expected to be unveiled today and approved next month, also holds steady ticket prices for Metro-North and the Long Island Rail Road, as well as tolls for the MTA’s bridges and tunnels, the sources said.
MTA Chairman Peter Kalikow said this year he didn’t believe the $240 million in hikes - which had been on the books - would be needed because the economy, particularly the real estate market, was doing better than expected. The agency gets revenues from real estate transactions.
This might be the calm before the storm however as the MTA has predicted huge deficits for 2008 despite the fact that it will get some help from the recent sale of Peter Cooper Village and Stuyvesant Town.
MTA plays fare and holds it for ‘07 [Daily News]
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