BRACE FOR MORE MTA HIKES
By PATRICK GALLAHUE, NY Post
June 11, 2008 -- A commission that is trying to find ways to fund the cash-strapped MTA will look to fare hikes, congestion pricing, and possibly new taxes, officials announced yesterday.
Gov. Paterson unveiled the 12 panel members who will try to steer the Metropolitan Transportation Authority away from financial ruin, and suggested it could revive some controversial proposals, including the congestion-pricing plan that died in the Legislature in April.
The commission will submit its report to Paterson in December.
State lawmakers are planning to grill MTA bosses today in a hearing over fears of more fare and toll hikes just months after the last increases went into effect.
"The reality is that a major fare increase is looming, even as we went through a similar increase last year," said Assemblyman Richard Brodsky.
The MTA is facing massive shortfalls with swiftly rising costs and a worsening economy.