MTA to Cut Planned Fare Hikes for 2015 and 2017

NEW YORK (AP) —

The Metropolitan Transit Authority will be cutting its planned 2015 and 2017 fare and toll hikes by almost half — to just four percent.

The MTA had previously said  subway, bus, bridge and tunnel fares would increase by 7.5 percent. They said Wednesday that it would offset future revenue loss with aggressive cost-cutting measures.

The move comes after State Comptroller Thomas DiNapoli conducted an audit of the agency that found a $1.9-billion surplus.

John Raskin of the Riders Alliance said the reduction “will help slow the constant drumbeat of fare hikes that have contributed to New York City’s affordability crisis.”

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