The chairman of the Metropolitan Transportation Authority warned about reducing or even eliminating unlimited fare and other MetroCard discounts for riders of New York City's subway system, as a means of closing a budget gap.

"We have enormous discounts in the system. And I think we need to look at those discounts, and we need to have, on the entire fare issue, a public debate," Joseph Lhota said in Crain's New York Business, at a forum that the publication sponsored. "There are a lot of people in New York who think our pricing system is mystifying. It shouldn't be."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.