MTA goes forward with 4% fare and toll hikes for 2015

Updated budget plans unveiled by the MTA on Monday show that a previously planned 2015 fare and toll hike of 4% will not be increased, despite rising labor costs. The Metropolitan Transportation Authority’s labor expenses will grow by roughly $260 million a year, on average, through 2018, as a result of recent contract settlements, including a pact for subway and bus workers and the tentative deal that averted a Long Island Rail Road strike earlier this month, officials said. MTA officials will cover the added costs through several moves, including dipping into reserves established to pay for future retirees’ health care and to fund future capital construction projects, Chief Financial Officer Robert Foran said.

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