Today’s news:

Doomsday Avoided

A last−minute deal in the state Senate has saved the city from a doomsday scenario that would have resulted in dramatically raised subway and bus fares and reduced services and led to the layoff of 1,000 workers.

The plan includes a payroll tax and other revenue−raising measures, including a 50−cent surcharge on all yellow cab rides. It will allow the MTA to avoid massive hikes in bus and subway fares and service cuts.

The bailout is not the ultimate solution. The plan that passed last week is a temporary solution, but nonetheless an important first step.

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