Ahead of its monthly board meeting, the MTA has decided to postpone raising fares in 2021 "for several months." MTA Chairman Pat Foye explained the pandemic's effect on New Yorkers, noting riders are "suffering and cannot shoulder even a modest fare increase right now"—and he continues to hold out hope that a Biden administration and Democratic-led House and Senate will kick in another $8 billion needed to help the financially struggling agency.
"The COVID-19 pandemic has wreaked economic havoc—devastating the MTA's ridership and revenues and bringing them to levels far worse than the Great Depression," Foye said a statement released on Monday night. "It has also hit people of color and low income communities hardest, many of whom are the very same essential workers that have been on the frontlines of this crisis and who are also most dependent on mass transit."
The MTA had mulled a number of proposals, including a fare hike on single rides from $2.75 to $3.00, increasing the price of weekly and monthly MetroCards, and either keeping the purchase of a new MetroCard at $1 or increase the fee to up to $3.00.
In December, the MTA held eight public hearings and received 2,100 public comments about the possible hike, Foye said, "What we heard at these hearings was that people are suffering and cannot shoulder even a modest fare increase right now."
Even before the pandemic, the MTA had been projecting budget shortfalls for years, given hundreds of projects in progress. The MTA board passed a fare hike in 2019 that eliminated savings for weekly and monthly MetroCards, while keeping the $2.75 base in tact.
Then the pandemic hit. Subway ridership plummeted at in March 2020, when New York State went under a strict lockdown, and with many businesses shifting to remote work or describing their in-person staff or simply closed, with subway ridership falling by 90%. Over the summer, with the MTA losing approximately $200 million in revenue each week, Foye said, "We are facing the most acute financial crisis in the history of the MTA."
Now, ridership has been about 70% below pre-pandemic levels (subways are closed between 1 a.m. and 5 a.m.), while bus ridership has dropped around 54%.
MTA ridership and traffic between March and December 2020
With the election of President-elect Joe Biden, the MTA had been holding out hope for federal aid. Last month, a federal stimulus package gave the agency $4.5 billion to balance its 2021 budget and avoid mass layoffs and radical reductions in service.
Foye said on Monday, "Buoyed by President-elect Biden, incoming Senate Majority Leader Chuck Schumer and Speaker Nancy Pelosi, the MTA also has hope for $8 billion in additional pandemic relief and continued federal investment in mass transit in 2021 and beyond. For these reasons, the MTA has decided to postpone the planned fare increase for several months. We plan to move forward with a discussion and vote on recommended toll changes in February."
WCBS-TV reports that the tolls for the MTA's seven bridges and two tunnels would still go in effect, as vehicular traffic has only dropped 16%.
The public can give public comments for the MTA board meeting—registration is from 10 a.m. until 11 a.m. on Tuesday, with recording comments beginning at noon. Thirty minutes of comments will then be played at Thursday's meeting.
