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The March 2013 fare hike that raised the cost of a New York City monthly MetroCard from $104 to $112 isn't a one-time ordeal. The Metropolitan Transportation Authority (MTA) is working to expand and improve the transit system, and that takes money.
It also takes money to cover pensions, rising healthcare costs, and interest on loans the MTA has taken out. But funding is tricky: About 40% of the MTA's money comes from state and local subsidies, federal funding, and dedicated taxes a€” none of which its Board can alter.
The 2015 and 2017 fare hikes will likely need to produce a 7.5% increase in revenue to keep the budget balanced, though that number could be lowered with savings or revenue elsewhere,A MTA spokesperson Adam Lisberg said. The IBO also calculated how much fares will be ten years from now, if hikes continue at the current pace (8.4% every two years). If these are on point, a monthly pass will jump from $112 today to $168 in 2023 (that will feel like $128.71 in today's dollars). Lisberg cautioned that because the MTA has not set a fare plan past 2017, there's no way to know how much fares will rise. And there's hope that the MTA will find a way to avoid making biannual hikes are permanent feature, if it can find ways to reduce costs (while improving service).
On that front, higher taxes and better subsidies would be a big help, but don't count on the New York State legislature for those a€” it's been more inclined to steal from the MTA's budget than bolster it in recent years. The Library of Congress said of the footage: 'At the time of filming, the subway was only seven months old, having opened on October 27, 1904.
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. In many areas, New York City's bus system is slow, unreliable, and the only way for residents to get to work and school.
But incoming mayor Bill de Blasio could make things a lot better a€” even with no direct control of the city's public transit system.

In a recent report funded by the Rockefeller Foundation, the Pratt Center for Community Development noted that rising housing costs have pushed many New Yorkers from well-served areas, putting "a long, slow bus ride" between them and the nearest subway station. Bus Rapid Transit (BRT) offers some advantages of a subway, without the enormous cost and hassle of building underground. That sounds good, but the Metropolitan Transportation Authority (MTA), which runs public transit in the region, is a state agency, so de Blasio has no direct control over how it operates.
Yet there are two key ways he can have an impact anyway, Gene Russianoff, chief spokesperson of the advocacy group Straphangers Campaign, told Business Insider.
First of all, de Blasio can choose a commissioner for the Department of Transportation who will work well with the MTA.
De Blasio will take office on January 1, but has not yet publicly announced a choice for DOT commissioner. A New York City Metropolitan Transit Authority (MTA) subway conductor is seen at the Bleeker Street stop.
The agency said Wednesday that it would offset the 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.
Let the MTA use a tiny fraction of that $1.9 billion surplus to bring back the X-29 Express Bus that was the only way for people in certain Jewish sections of Brooklyn to get to Manhattan by bus. We've sent you a confirmation email, please click on the link in the email to confirm your subscription. The bus rapid transit network (well, BRT-like) suffered a setback last week when the Department of Transportation and Metropolitan Transportation Authority shelved their plans for SBS service on the M60 corridor, along 125th Street in Harlem and then on to LaGuardia Airport, after encountering resistance from local community boards and elected officials. The M60 SBS route reappears in the map that was presented to the board this afternoon, along with a number of others.
In an unrelated matter, the MTA also announced that it has made plans to sell a parking lot at 19 East Houston Street by the Broadway-Lafayette subway stop, underneath the Holister billboard and next to the infamous landmarked BP station, which is also slated for redevelopment.

The picture isn't pretty, but it's not grisly, either, since it provides numbers that account for inflation.
The ride begins at 14th Street (Union Square) following the route of todaya€™s east side IRT, and ends at the old Grand Central Station, built by Cornelius Vanderbilt in 1869. Bill de Blasio will work to phase in the creation of a citywide Bus Rapid Transit network with more than 20 lines, linking communities underserved by transit to the city's primary transportation and employment hubs. The "long checkered history" of strained relations between the organizations improved during the tenure of Janette Sadik-Khan, the outgoing commissioner, Russianoff said.
Under outgoing Mayor Michael Bloomberg, the City funded the $2 billion extension of the 7 subway line to the West Side, a five-year project that should be complete this summer. If de Blasio "wants this to move ahead," Russianoff said, "having a financial contribution from the City would make a big difference. Madison Capital is the lucky buyer—they’ll pay nearly $26 million for the property, and will have to go through ULURP, requiring a City Council vote, in order to develop it. The Grand Central Station in use today was not completed until 1913.'Before the first subway train made its historic journey in October 1904, engineers and electricians had planned the infrastructure and inner workings of the audacious public work.
Also included are unnamed streets through neighborhoods like Soundview in the Bronx, or southern and central Brooklyn, along with a number of new routes in Manhattan. What they came up with more than 100 years ago has undergone upgrades and been modernized with new technologies, but the subway system is still working much as its originators had planned.

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