Gothamist: Will the MTA Raise Fares in 2008?:
While the MTA is still looking at their budget for 2008, a fare hike for next year could be on the horizon. The Daily News talked to MTA CEO Elliot Sander, who said, "I think the whole conversation is a little premature for us to engage in, but at the same time I think it's fair for me to say it's a real possibility." The reason the MTA needs a fare hike? Annual deficits are more than $1 billion and rising and the MTA has been borrowing money to offset decreased funding.