Debt Concerns, Route Cutbacks, and Fare Increases
Since 1988, the MBTA has been the fastest expanding transit system in the country, even as Greater Boston has been the slowest growing metropolitan area. When, in 2000, the MBTA's income was capped, the agency began to run up large debts from already-scheduled projects and obligatory Big Dig remediation work. As of 2012, the MBTA has the highest debt of any transit authority in the US. In an effort to compensate, rates were hiked on January 1, 2007 from $1.25 up to $2.00 per subway ride with a CharlieTicket, and $1.70 with a CharlieCard. Increasingly, local advocacy groups are calling on the state to assume $2.9 billion of the authority's debt, approximately $9 billion. The interest on this debt is a large proportion of the MBTA's annual expenses, and severely limits funds available for any further required projects.
In April 2012, the MBTA Advisory Board approved major fare increases on all MBTA services, and cutbacks or terminations of some transit routes. In spite of these emergency financial measures, the MBTA's finances will require further remediation within another year.
Read more about this topic: History Of The MBTA
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