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Woah.

Brace yourself New Yorkers, in just two months, nothing will ever be the same—it will cost you more to ride the subway.

The board of the Metropolitan Transportation Authority (MTA) voted on Thursday (January 22) to raise the base fare on subways and buses by 10 percent. Single rides goes up from $2.50 to $2.75, the cost of a 30-day MetroCard by $4.50, to $116.50 and the price of a weekly cards will increase from $30 to $31. The only thing that remains unchanged, is the $1 fee for purchasing a new Metrocard.  However, according to NBC News, riders who put $5.50 or more onto their MetroCards will get an 11 percent bonus—double the bonus under the previous plan.

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The new approved fares will take effect on March 22.

Though keep in mind, fare increases is nothing new in NYC— it occur every two years as part of a long-term revenue plan. In fact, the last increase, in 2013, the cost of a single ride rose from $2.25 to $2.50.

Furthermore, the board also voted to raise tolls on its bridges and tunnels — by 4 percent for E-ZPass customers and 6 percent to 10 percent for cash customers, depending on the crossing they use, NBC News reported.

The MTA has cut over $1 billion from its annual spending. However, one of the reason for the increase of fares, is to “balance the agency’s budget against the rising costs of providing services,” according to MTA chairman Thomas F. Prendergast.

The MTA is $34.4 billion in debt.

 

[Photo Credit: Ruth Fremson/The New York Times]

 

Follow Sherley on Twitter–@sherleybee_