Bus, subway fares raised to $2 in New York City NEW YORK (AP) _ City bus and subway fares will jump by 50 cents to $2 this spring under a decision Thursday that will affect more than 7 million daily commuters on the nation's largest mass transit system. The increase, the first since November 1995, will take effect May 4. The fare hike will put New York on par with Philadelphia, with its $2 base cash fare for subways. A ride in New York will be more expensive than one in Chicago ($1.50), Atlanta ($1.75), San Francisco (soon to be $1.25) or Boston ($1). The Metropolitan Transportation Authority said it needs the money to deal with an estimated $952 million deficit over the next two years. ``We can't do everything that everybody wants,'' MTA Chairman Peter Kalikow said during a public hearing. ``It's impossible.'' After the vote, a crowd chanted at board members, ``Shame on you! Shame on you!'' ``As you've heard, again and again, New Yorkers are outraged,'' Brooklyn Borough President Marty Markowitz told the board. ``It makes absolutely no sense to even consider a fare increase.'' The board also boosted tolls on its bridges and tunnels, including the Triborough Bridge and the Queens Midtown and Brooklyn-Battery tunnels, by 50 cents to $4. Fares will also rise 25 percent on the Metro-North and Long Island Rail Road commuter lines May 1. The board also decided to close 62 part-time token booths and phase out subway tokens, which were created in 1953 when fares rose from 10 cents to 15 cents and turnstiles were unable to accept two coins at once. The token has been remodeled several times, but is now overshadowed by the popular Metrocards. Getting rid of the tokens saves the agency $6 million.