NEW YORK - The full MTA board approved a plan Wednesday that calls for fare increases and service cuts.The MTA says the fare hikes are needed to help close a $1.2 billion budget deficit. MTA officials say the hikes and cuts could be avoided if state lawmakers back a last-minute bailout deal.Under the plan, a single ride on city subways and buses will rise from $2 to $2.50. A 30-day MetroCard will go up $22, from $81 to $103.Fares will rise an average of 23 percent for commuters that use the Long Island Rail Road or Metro-North. The plan also calls for increasing tolls on the MTA's bridges and tunnels.AP wire services contributed to this reportMTA Budget Details