NEW YORK—The Metropolitan Transportation Authority on Wednesday cut in half the toll and fare increases projected for 2015 and 2017.
The agency lowered its projected toll and fare increases from 7.5 to 4 percent in an updated budget and four-year financial plan released Wednesday. Cost-cutting measures and increased tax and operational revenues contributed to the tapered hikes.
“We believe this is a plan that’s implementable and doable,” MTA Chairman Tom Prendergast said.
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