Fair Fares: IBO reports show expanding transit discount program would be cheaper than fare-free buses, but reach fewer riders

The Independent Budget Office (IBO) reports that expanding the Fair Fares transit discount program would cost significantly less than implementing fare-free buses in New York City, though it would benefit fewer riders. Fair Fares, a means-tested program offering discounted transit fares to low-income residents, costs $121 million annually, while fare-free buses would cost $1.1 billion yearly. The IBO analysis highlights the trade-off between universal access (fare-free buses) and targeted support (Fair Fares).