Metro Transit says it’s raising bus fares to close a hole created by the 5 percent tax levy reduction asked for by Mayor Paul Soglin. The proposed fare increase was discussed as part of a budget hearing Tuesday at the Board of Estimates. “The mayor asked every department for a 5 percent tax levy reduction,” said Chuck Kamp, transit general manager. “We were allowed, when we looked at that tax levy reduction, to either reduce expenses or add revenue. “With our ridership growing to record levels, with overcrowding on buses, we did not want to cut services, so we looked at revenues.”