WOODBURY - The Metropolitan Transportation Authority (MTA) is looking to end the 27 percent discount it offers to subway riders who buy monthly and seven-day MetroCards.

MTA Chairman Joe Lhota says the move will help close the agency's nearly $500 million budget gap.

The MTA says it will release all the information about proposed pricing changes by mid-October. It will then hold public meetings on the proposal before voting on it in early 2013.