Brace yourself: The MTA may raise the cost of a ride to as much as $3

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Bad news for budget-minded straphangers: The MTA is considering fare hikes that could raise the cost of a MetroCard up to $3 per swipe, as the New York Post reports.

The rate raise would be part of a series of planned fare hikes set to be rolled out over the next few years, and would represent a nine percent increase in the cost of a ride. However, under this proposed plan, riders would also receive a 16 percent discount on purchases over $6. The cost of a monthly pass would rise from $116.50 to $121, and the cost of a weekly pass from $31 to $32, represented an increase of under four percent for each.

With subway ridership at record highs, expensive projects including the Second Avenue subway and repairs to the L train, and a recently agreed-upon raise for employees of the Transit Workers Union, the MTA budget has been stretched thin. However, as the Post points out, riders aren't thrilled with the news of potential fare hikes, and one told the paper, "What are the increased prices going to? The service just getting worse and the MTA is wrong to do this. If the service improved, I wouldn’t mind."

Stay tuned to see how things shake down: The MTA is set to vote on a new fare hike plan at a meeting this Wednesday, according to DNAinfo. You may have to prepare to adjust your monthly commuting budget accordingly.