The state commission charged with finding new sources of revenue for the Metropolitan Transportation Authority (MTA) is set to release its report today, which is likely to draw mixed reactions from New Yorkers.

The Ravitch Commission will reportedly propose tolling the East River and Harlem River bridges and implementing a payroll tax on businesses. That would offset some of the burden for mass transit users.

Riders would see an eight-percent fare increase on bus and subway service, instead of the 23-percent increase proposed by the MTA last month.

The MTA is trying to close an estimated $1.4 billion deficit in its operating budget next year and a $3 billion deficit by 2012.

The agency is also looking to find ways to fund its next five-year capital program, which begins in 2010.

Any recommendations would need the support of the state Legislature, Mayor Michael Bloomberg and Governor David Paterson.

The governor says what he’s seen of the report so far seems workable.

“I’m still looking at the Ravitch Commission’s report. I’m quite pleased with what I see so far though,” he said at a news conference yesterday. “I think that this is another way to accomplish it.”

The governor is scheduled to give a news conference this morning detailing the Ravitch Commission’s recommendations. The mayor is also expected to be on hand.

(Source: NY1 / WCBSTV)