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The Metropolitan Transportation Authority board voted on Wednesday to raise fares for New York City subway and bus riders in April. But the agency says that higher fares will not solve its deep financial crisis.

The board voted to keep the base fare at $2.75 while eliminating the 5 percent bonus that riders receive when buying a pay-per-ride MetroCard. Commuters who rely on the authority’s sprawling network of trains, buses, bridges and tunnels will also see fare and toll increases of about 4 percent.

On April 21, the price of a weekly MetroCard will rise to $33, up from $32. A monthly pass will increase to $127, up from $121.

The fare increase vote comes as state lawmakers decide whether to approve new revenue streams for the system. Transit leaders say they need billions of dollars to tackle huge budget deficits and to pay for critical repairs.