The state Legislature Wednesday night passed an MTA bailout to rescue millions of daily straphangers and drivers from a toxic mix of fare hikes and service cuts.
The transit-funding package will generate some $2.3 billion annually for the cash-strapped Metropolitan Transportation Authority with a payroll tax and other revenue-raising measures – including a 50-cent surcharge on all yellow-cab rides.
* A single-ride MetroCard will be $2.25, not $2.50;
* The pay-per-ride discount will be 20% when you buy $7.50 or more;
* A 30-day MetroCard will be $89, not $103;
* Fare increases on LIRR and MetroNorth will be about 10%, as opposed to the 25%-70% hikes in the MTA “Doomsday” budget;
* The Doomsday service cuts will not happen, maintaining current levels of service;
* Two years worth of capital funding will ensure the MTA has the basic resources needed to continue to rebuild the system.