MTA Approves 2014 Budget of $13.5 Billion

NEW YORK (AP) -

The MTA on Wednesday approved a $13.5 billion transit budget for 2014. Chairman Thomas Prendergast said that cost cuts in the past few years have been so effective that future subway and bus fare hikes planned for 2015 and 2017 will be about half as much as originally projected. No exact fare figures are being considered yet.