The MTA approved the doomsday budget yesterday that will allow them to hike the fares starting as early as Thursday this week. The new budget would/will need to be approved tomorrow (Wednesday), and the new fare would kick in Thursday.
How much? Single rides would be $2.50. The monthly unlimited Metrocard would jump to $104 at least (official source). It could be more if the MTA picked the plan that had no service cuts. However, it looks like there will be some service cuts in addition to the fare increase to keep the actual financial burden as low as possible.
So should I go buy 12 unlimited Metrocards right now while they are still just $81 ? Will they be honored? Technically, they don’t activate until their first use.