T fares could rise by as much as 43 percent in 2012 to help reduce the Massachusetts Bay Transportation Authority’s growing deficit, MBTA officials said.
In early January, MBTA officials proposed two possible plans to increase fares by either 35 or 43 percent and cut services.
The first scenario would increase the overall fare by 43 percent, according to the MBTA’s press release, raising the Rapid Transit CharlieCard price from $1.70 to $2.40. The CharlieCard fare for buses would increase from $1.25 to $1.75.
The second plan would raise the overall fare by 35 percent, raising the Rapid Transit CharlieCard price by $0.55 from the original $1.70 price. The Bus CharlieCard fare would rise from $1.25 to $1.50.
Under both proposed plans, the MBTA ferries could be eliminated, the E branch of the Green Line could not have weekend service and Commuter Rail weekend service could be eliminated.
Both proposed scenarios would also increase parking rates by 28 percent under the first plan and 20 percent under the second plan.
The plans come as a result of the MBTA’s financial strain. The MBTA has an estimated $161 million budget gap for the 2013 fiscal year, according to the press release.
“The current economic downturn has exacerbated the T’s financial situation and limited its means for relief,” said MBTA spokeswoman Lydia Rivera.
She said the current operating costs for energy, fuel and healthcare for workers continue to rise.
“Increasing operating costs and the continued underperformance of the state sales tax required the MBTA to propose fare and service changes,” Rivera said.
In November, the MBTA reached an all-time ridership high of 1.3 million people per weekday, according to its website.
Despite the increased ridership, the MBTA has “a total of $5.2 billion in debt, currently the highest debt burden of any U.S. transit agency,” Rivera said.
As a result, the T itself is financially burdened with not only increased operating costs, but also with interest payments that take up to 30 percent of the MBTA’s annual operating budget, she said.
The proposed plans, however, are not set in stone, Rivera said. Instead, both scenarios represent options the MBTA plans to explore before July 1, the date set by the MBTA to implement changes.
The MBTA has set up more than 20 meetings with the public over the next few months to involve customers in the process, Rivera said.
“The meetings will allow MBTA staff to explain more thoroughly the T’s financial state and the proposed fare increase [and] service reductions options,” she said. “Attendees will be allowed to share ideas and recommendations.”
The MBTA will aim for an “open and transparent public process,” said Transportation Secretary Richard Davey in a statement.
The MBTA hopes to show the public, Rivera said, that while they work to expand their services and continue to improve infrastructure, the MBTA cannot continue to operate under the current circumstances.
“We believe transparency and sharing our issues will demonstrate to the public that we are doing all we can,” Rivera said. “But we need their support to keep the system operating efficiently.”
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