NYC: Cuts, fare hikes, gas tax floated as MTA faces budget hole

Fare and toll increases, wage freezes, service cuts and even a state gas tax were discussed Wednesday as the nation’s largest transit agency stared down a gaping budget hole caused by the coronavirus pandemic.

The Metropolitan Transportation Authority painted a bleak financial picture at its monthly board meeting as it gave a preliminary look at its budgeting for the next few years amid the fallout from the pandemic, which has decimated revenues from subways, buses and rail lines. A final proposed budget is expected to be presented in November, with a vote to follow in December.