Two big news items from the MTA today. The first is that transit authority chairman Joe Lhota will step down Friday, in an apparent move towards the 2013 mayoral election. It has been widely speculated that Lhota would run for mayor, especially after the warm public reception he and the MTA received after their Hurricane Sandy response. He’ll be the first major Republican to throw his hat into the ring, facing a field of Democrats that includes Public Advocate Bill de Blasio, Comptroller John Liu, and Council Speaker Christine Quinn.

Secondly, this morning, the authority will vote on a plan that would raise the cost of a single subway ride to $2.50, a weekly pass from to $30, and a monthly pass to $112. The plan would also raise tolls on MTA bridges and tunnels, and will go into effect in March if it is voted in.

(Photo: MTAPhotos/Flickr)