Remember last month, when we told you the MTA was considering a fare hike plan that would jack the price of a monthly pass up to $125 by next spring? Blessedly, after a few meetings, it appears as though the transit authority may be pursuing a different tack.

The Daily News is reporting that the MTA is likely to go with an altogether new plan for the hikes, which would focus on keeping things cheap for those who ride the subway most often: single fares would go up 25 cents, to $2.50, seven-day passes be raised from $29 to $30, and monthly passes would go from $104 to $112. The MetroCard bonus would kick in at $5, but would be reduced from 7% to 5%.

“I’m not saying it’s the best thing since sliced bread,” said MTA board member Andrew Albert, who supports the plan. “It’s the best option in a bad scenario. Ideally, the city and state would give bigger subsidies for mass transit and we wouldn’t have this budget problem. We wouldn’t have to raise fares. But given our subsidies, or lack of subsidies, this takes it easier on a vast majority of our bus and subway customers.”

(Photo: Ged Carroll/Flickr)