New York's Metropolitan Transportation Authority adopted a $12.08 billion operating budget for 2011 at its monthly board meeting Wednesday. The budget closes a projected $900 million deficit with a combination of fare and toll increases that go into effect on Jan. 1, labor concessions, efficiency savings, and recurring actions taken this year.

The MTA operates the nation's largest mass transit system as well as tolled bridges and tunnels serving the New York City metropolitan area.

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