From the NY Post:
Straphangers could face even larger subway fare hikes than already planned because of a potential $100 million hole in the MTA’s budget.
The looming crisis is the result of 64 of the agency’s 65 employee unions operating without a contract, a rare occurrence that could blow the agency’s already fragile budget apart and force even bigger fare hikes than the ones set for March.
The unions, which represent more than 57,000 full- and part-time employees, are in various phases of negotiations regarding pay and benefits with the agency — and insiders are wondering if the next round of fare hikes will be enough to cover the eventual contracts.
The MTA’s 2013 budget assumes that its workers receive zero pay raises — an assumption that its union leaders have already rejected.
That budget also relies on fare and toll hikes to rake in $450 million for the upcoming year — a gap that would be significantly widened if the MTA had to pay out significant raises.