New York Gov. David Paterson said yesterday that the Metropolitan Transportation Authority's capital plan would be in peril if the Legislature does not pass a rescue for the cash-strapped agency by March 25.

"There will be prohibitively high fare increases, there will be extraordinary cutbacks, there will be no MTA capital plan if action isn't taken now," Paterson said. "This great system must at this time undergo a rescue plan - we must rescue the MTA from fiscal insolvency."

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