Updated 05/10/2009 04:12 PM
MTA Board To Discuss Bailout Details
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In light of Albany's $2.26 billion bailout that eliminated service cuts and softened fare increases, MTA board members are expected to vote Monday to reduce the fare and toll increases approved in March.
Under the bailout, the MTA will no longer cut any subway or bus service.
Fares and tolls will rise about 10 percent, with the base fare increasing by a quarter to $2.25.
Monthly MetroCards will rise from $81 to $89.
The deal also includes a payroll tax that's estimated to raise $1.5 billion for the MTA and help fund its capital plan. The plan also hikes the annual fee for a drivers license by $2, adds a $25 supplemental car registration fee, adds another five percent sales tax on car rentals, and slaps a 50 cent taxi-surcharge on cab riders.
The fare and toll hikes are expected to take effect in the next few months.
NY1 will have live coverage of the meeting Monday morning, which is scheduled to begin at 10 a.m.