From the NY Post:
It’s no secret that commuters are likely to face steep MTA fare and toll hikes in 2013...and again in 2015 — but New Yorkers might also want to know how all that money is going to be spent.
Alas, they might not like the answer.
Because, as it turns out, every last penny from the fare and toll bumps will be gobbled up by the hungry hungry hippos of the Transport Workers Union.
That’s right: Even though the 7.5% fare and toll hikes will raise almost $1.9 billion cumulatively over the next four years, the cost of TWU benefits — including, notably, pensions — will surge by an alarming $2.4 billion over that same time span.
That’s about 26% more than the fare hike.
In other words, all your extra fare and toll dollars will go into the union’s already well-padded retirement and health-care accounts.
That was the painful message from an MTA official who spoke at the City Council’s Transportation Committee on Tuesday. He warned that even as straphangers are forced to dig deeper than ever, they won’t be getting any bang for their buck — or see any of the recently canceled bus and subway service restored.
Meanwhile, commuters will have to pony up: MetroCards are expected to shoot up to $167 a month by 2017, according to transit advocate Gene Russianoff — which is just a nose shy of $2,000 a year.