MTA mulls fare increases in 2017

The Metropolitan Transportation Authority (MTA) is considering raising fares by about 4 percent over the next two years.

Under the New York City agency's proposals, the cost of a seven-day MetroCard would increase $1 to $32, while the price of 30-day MetroCards would jump $4.50 to $121. The MetroCard can be used on all New York City Transit subways, local buses and express buses.

Fare increases on Metro-North Railroad and Long Island Rail Road vary depending on a rider's zone.

The fare hikes would be the lowest since 2009, when the MTA committed to a biennial schedule to keep adjustments as small and predictable as possible, agency officials said in a press release.

Next month, the agency will hold eight public hearings on the proposals, after which the MTA board will review public input and vote on a final plan. The new fares and tolls would take effect March 19, 2017.

Just over half of the MTA's $15.6 billion annual operating budget comes from fares and tolls.