New York’s Metropolitan Transportation Authority should increase its base fare to $2.50 from $2.25, Chairman Joseph Lhota told the board, as the agency looks to raise an additional $450 million in annual revenue.

In a letter to the board on Thursday, Lhota recommended preserving the bonus feature for those putting a minimum amount on their Metrocard fare tickets, but reducing the bonus to 5% from the current 7% while lowering the minimum purchase threshold to $5 from $10.

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