New York City’s transit system in 2024 lost approximately $1 billion of revenue from fare evasion https://t.co/Ym4l4ggmEQ ...

Ridership & Recovery - Weekday subway ridership remains 25% below pre-COVID levels [2] - MTA projects subway ridership to recover to 80% by 2029 [3] - Railroad ridership recovery is at 85%, exceeding initial expectations [4] Financial Performance & Planning - MTA faces a combined $11 billion deficit over three years starting in 2027 [8] - MTA owes close to $50 billion and needs to spend $68 billion more for vital improvements [8] - Fare revenue accounts for 26% of MTA's total revenue [20] - Bus fare revenue contributes approximately $1 billion annually to the MTA [20] - A proposed fare increase of 2% occurs every other year to balance the financial plan [6] Fare Evasion - Subway fare evasion has been reduced by 30% in over a year, dropping from 14% to 98% [15] - Bus fare evasion has decreased from 50% to 44% in the last year [15] Fare Policy & Proposals - Base subway fare is expected to increase to $3 in January [11] - Fare revenue is crucial for MTA operations, covering 70% of costs related to 70000 employees [12]