The notice, which announces eight public hearings to be held between Jan. 14 and Feb. 4, 2009 at various locations throughout the city and Long Island, describes the maximum levels of fare increases and service cuts that MTA's board believes would be necessary if other revenue sources aren't found before the budget takes effect next June. According to the notice, reduced service--including the outright elimination of four subway lines and 34 bus lines--is on the table, as are $7 tolls for the authority's bridges and tunnels.

When the MTA board passed the '09 budget late last week, Sander expressed the hope that the findings of the Ravitch Commission would be enacted. "The transit system is the engine that powers the state's economy," he said in a statement. "Implementing the Ravitch recommendations will secure its future and act as a stimulus bill for New York State, and I hope our legislators will act quickly."

As previously reported by GlobeSt.com, the fare and toll increases would generate a projected $670 million in revenue for '09. According to a release, MTA began implementing cost-cutting measures last year in anticipation of pending deficits, including integration of its three bus companies, consolidation of back office functions and a 6% reduction in controllable costs over four years.