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MTA Considering Fare Hike to Close Budget Gap October 11, 2002, 4:47 AM EDT NEW YORK (AP) _ The Metropolitan Transportation Authority is evaluating ways to close a projected $633 million budget gap in 2003, including the possibility of raising bus and subway fares early next year. "A fare hike is the last resort, and we have a lot of resorts to go to before we get to the last resort," Gary Caplan, the MTA's budget director, said at a City Council hearing. "If there was a need for a fare increase, it wouldn't be sometime until March or April." Later this year, MTA officials will determine whether a fare increase is needed to balance its budget. If so, then the MTA will hold public hearings that would last about three months. Some officials have said that fares may be raised to $2 from $1.50, where they have remained since November 1995. Copyright (c) 2002, The Associated Press _____________________________________________________________________
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