I would definitely increase taxes. I'm not small government minded, and I am not anti tax. AFAIK its by far the best way to get public utility functions done. The exceptions are out there: Japan Rail is a good example of an efficient non-public utility running, with no subsidy. So I don't claim its the only model, but its the one I like best. Most of the "but its my money" arguments come from people with disposable income, or who are in denial about how much the depend on centrally managed spend (again, IMNSHO)
In my own economy, attempts to avoid public support for transport have marginalized investment, and meant service is very expensive, and not well suited to local communities. A number of things like Uber have wrecked the taxi industry, and Lime appears to be squeezing a rental-bike model funded out of Bus Shelter advertizing. This doesn't make me happy.