Fare increases from 15 cents to 20 cents

  • Date: July 5, 1966
  • Fifth Avenue Coach Lines, a private bus company, wanted Wagner administration to increase fare to 20 cents in 1961 [2]
    • seems to imply NYCTA-specified fare applied to more than NYCTA
    • 15-cent fare possible because taxpayer subsidizes all NYCTA capital costs
      • 1961 debt service was $92mil
    • City-owned NYCTA did not pay taxes, Fifth Avenue coaches paid more than $4mil annually in taxes
  • Lindsay asked for $520mil tax package from Albany, but did not get it all
  • Senate killed a bill that would allow the city to transfer $69mil in state aid to NYCTA
    • The state aid was $100mil from January 1966 to lessen the burden of settling the 1966 transit strike
    • Without being able to use this aid, fare rose 5 cents
  • Source: "A 20-Cent Fare?," The New York Times, May 5, 1961. link
  • Source: Richard L. Madden, "ALBANY DEFEATS MEASURE TO SAVE 15-CENT CITY FARE," The New York Times, June 2, 1966. link
  • Source: Robert Alden, "TRANSIT FARE RISE OF 5 OR 10 CENTS CONSIDERED SURE," The New York Times, June 1, 1966. link
  • Source: "REACTIONS MIXED TO 20-CENT FARE," The New York Times, July 6, 1966. link
  • Tags: fare-increases mta transit-strike-1966

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