Will New Fares Squeeze Out Riders?

Mayor Bloomberg says even though the MTA Board passed its doomsday budget plan, Bloomberg says he appreciates that board members backed off their original plan to boost express bus fares from $5.00 to $7.50.

BLOOMBERG: But people who take express busses would have to shift to cars and that would create more congestion and more pollution and in some cases they don't have any alternative.

REPORTER: Under the plan that passed today, express bus riders will now pay $6.25.

The mayor says he still holds out hope that Albany can help come to the rescue of the City's mass transit system.