The Associated Press reports - “The worsening economy is taking a toll on the Metropolitan Transportation Authority, despite a nearly $2.7 billion state bailout.

But the giant transit agency said today it still expects to keep its promise to state leaders to get through 2010 without raising fares or cutting service.

The MTA said the bailout, cost-cutting and proceeds from recent fare and toll hikes will offset dramatic drops in tax revenue and ridership.

The agency says it expects to get less than half as much real estate tax income this year as it had last year - a projection that has worsened significantly in the last five months. Projected fare and toll collections also are dropping, with ridership off more than 3 percent since last year.”