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SEPTA will raise fares for many riders currently getting a discount by buying fare cards, pending approval of its fare hike plan.
As part of the plan, the transit agency’s Andrew Busch said the hike will eliminate the discount for SEPTA Key users so all riders will pay the current $2.50 cash fare cost. Busch said that will result in a more than $10 million increase in revenue.
“We have a structural budget deficit of $240 million. That’s this current fiscal year,” he said. “The one started July 1st. We’re still working with our partners in Harrisburg on a long-term funding solution, but we know we have to take action now to try to make sure that we’re raising enough revenue through fares, and we’re also putting some cost-cutting measures into place, but we had held off on doing a fare increase.”
Although the state budget includes a small additional distribution to SEPTA, it is less than 25% of what the authority wanted and Busch said the need for a permanent solution grows more urgent by the day.