Everybody's favorite financial black hole in New York City - the MTA - is said to plan another fare hike just days before it institutes its congestion toll, according to a new report from the New York Post.

Spurring the hikes, the MTA approved a $1.27 billion order for 435 new subway cars, including 80 open-gangway models, and outlined plans to raise subway and bus fares to $3 per ride. Chairman Janno Lieber noted the fare increase, expected by late 2025, requires formal board approval next year.

Lieber said this week: “This is a good deal. We are way cheaper than other major world cities.” 

Well, there you have it...

But the Post writes that critics slammed the fare hikes and new $9 Manhattan congestion toll starting Jan. 5, pointing to high spending. The MTA’s plan includes 4% fare increases in 2025 and 2027, potentially raising fares to $3.14, with congestion tolls rising to $15 over time.

City Council Minority Leader Joe Borelli fired back: “Chicago Transit bought 400 cars for $632 million pre-pandemic."

He added: “So given the MTA’s incompetence factor, multiplied by their waste, abuse and mismanagement, paying only double a few years later seems par for the course. Congestion pricing was supposed to solve all these capital shortfalls, but apparently now it won’t.”

He continued: “Instead of rooting out waste and abuse within their bloated system, they keep the grift alive at our expense. This is pathetic, unacceptable, and New Yorkers deserve better.”