WASHINGTON – Mayor Bloomberg said today that raising the base bus and subway fare to $2.50 is “not good” during a ongoing economic recession.
“The main consequence of this is that when you reach into your pocket for every dollar you are spending, you’ll probably spend roughly a dollar and a quarter now,” Bloomberg said. “That’s not good for our economy. That’s not good for these times.”
The statement came a day after the MTA raised fares in order to close a $1.2 billion budget gap after Albany lawmakers failed to come up with a rescue plan to avert the increases.
“The alternative would be to shut down mass transit, and we’re not going to do that,” Bloomberg said. “From the board of the MTA’s perspective, if the state doesn’t come through, they have a responsibility to balance their budget.”