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Metro approves $2.5B budget for fiscal year 2012

Metro’s board of directors has approved a $2.5 billion budget for fiscal year 2012 that does not call for any major rail fare hikes.

The transit agency approved the combined operating and capital budget on Thursday. The fiscal year begins on July 1.

Metro had a $66 million deficit in its operating budget, but the District of Columbia, Maryland and Virginia closed the gap by making larger contributions. The board also found internal cost savings, and changed some bus routes.

The $1.5 billion operating budget will increase the bus-to-rail and rail-to-bus transfer fare by 50 cents on some bus routes in Anacostia and Congress Heights areas in Washington. It will also create a bus route between the Pentagon and Mark Center in Alexandria, Va.