NJ Transit approves $3B budget amid outcry over fare hikes

Jul 25, 2024 · NJ Transit’s board approved a $3 billion operating budget that will spend the last of the agency’s federal COVID-19 relief dollars and is expected to sharply raise fare collection …

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NJ Transit Approves $3B Budget Amid Outcry Over Fare Hikes

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NJ Transit Approves $3B Budget Amid Outcry Over Fare Hikes

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Jul 25, 2024 · Agency officials expect an anticipated increase in ridership will boost its non-fare commercial revenue by, for example, increasing concession sales. The New Jersey Turnpike …

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NJ Transit Approves $3B Budget Amid Outcry Over Fare Hikes

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Jul 26, 2024 · NJ Transit separately approved nearly $1.7 billion in capital spending for the 2025 fiscal year Wednesday. An earlier version of this story should have said the last NJ Transit …

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NJ Transit Approves $3B Budget Amid Outcry Over Fare Hikes

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15% NJ Transit Fare Hike Doesn’t Actually Fix The Agency’s Money ...

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Apr 15, 2024 · “This gets us to next year,” NJ Transit CEO Kevin Corbett said April 10 after the agency’s board voted to increase fares starting July 1, and hike the rates by an additional 3% …

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15% NJ Transit Fare Hike Would Be A ‘huge Burden’ On ... - Nj.com

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Mar 9, 2024 · 15% NJ Transit fare hike would be a ‘huge burden’ on working New Jerseyans, riders say ... While advocates said that vote should be put off until the state budget was …

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NJ Transit Fare Increase Gets Immediate Backlash - Bergen Record

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Jan 29, 2024 · NJ Transit’s annual fare hikes would increase 42% in the 14 years after July 1, 2026, when the annual raises would first go into effect — more than SEPTA, the MTA and NJ …

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NJ Transit Wants To Raise Fares 15% To Stay Ahead Of Budget Shortfall

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Mar 4, 2024 · NJ Transit wants bus and train riders to cough up more fare money to help rescue the agency from looming budget deficits. A plan to increase fares 15% on July 1 and then by …

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NJ Transit Riders Could Soon Be Paying 15% More To Ride – NBC10 ...

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Jan 25, 2024 · New Jersey Transit has proposed a 15% fare increase for bus and train riders -- the first increase in nearly 10 years -- in an effort to close a projected $106 million budget gap.

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How Will NJ Transit Avoid Fare Hikes After Latest Move By N.J. Leaders?

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Dec 2, 2023 · Advocates want a Corporate Business Tax surcharge set to sunset at the end of 2023 to continue, saying it will pump $1 billion into NJ Transit and help the agency avoid cuts …

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NJ Transit Riders Face 15% Fare Increase To Close Budget Gap

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Jan 24, 2024 · New Jersey Transit riders face a 15% fare increase, as the agency struggles to rebound from the pandemic, budget officials said Wednesday.. Fare hikes are needed to close …

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Proposed 15% Fare Hike Won’t Avoid NJ Transit’s Next ... - Nj.com

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Jan 27, 2024 · NJ Transit is proposing a 15% fare increase — its first in almost 10 years — to be followed up with continual annual 3% fare increases. That and $44 million in financial cuts are …

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NJ Transit Contract To Cut $300M In Costs Hidden From Public …

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Apr 11, 2024 · Ten percent of NJ Transit’s $2.964 billion budget for fiscal year 2025 comes out to about $297 million, and 10% of its estimated fiscal year 2026 $3.051 billion budget is about $305 million ...

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FAQs about NJ Transit approves $3B budget amid outcry over fare hikes Coupon?

Will NJ Transit's $3 billion operating budget raise fare collection revenue?

(Dana DiFilippo | New Jersey Monitor) NJ Transit’s board approved a $3 billion operating budget that will spend the last of the agency’s federal COVID-19 relief dollars and is expected to sharply raise fare collection revenue following the agency’s first fare hikes since 2015. ...

Is NJ Transit facing a budget crisis?

With a looming budget crisis hitting NJ Transit that could snowball into a $957 million shortfall by fiscal year 2027, officials announced plans to look at cutting costs and raising revenues, including possible fare increases. Officials said all options are on the table in an NJ Transit realignment plan detailed Wednesday. ...

How much money did NJ Transit spend in 2025?

NJ Transit separately approved nearly $1.7 billion in capital spending for the 2025 fiscal year Wednesday. An earlier version of this story should have said the last NJ Transit fare hikes were in 2015 and incorrectly described an agreement with NJ Transit and the New Jersey Turnpike Authority as lapsing in 2028. ...

Should NJ Transit increase fares?

The administration portrayed the NJ Transit increases as a necessary option of last resort to avoid a death spiral and said by increasing fares now they could maintain service in the coming years at the nation’s third-largest transit agency. There has not been a fare hike for nine years. ...

Will a 15% fare hike avoid NJ Transit's next fiscal cliff?

Proposed 15% fare hike won’t avoid NJ Transit’s next fiscal cliff. What can the state do? - nj.com Proposed 15% fare hike won’t avoid NJ Transit’s next fiscal cliff. What can the state do? NJ Transit is proposing a 15% fare increase — its first in almost 10 years — to be followed up with continual annual 3% fare increases. ...

When did NJ Transit last have back-to-back fare hikes?

The last time NJ Transit had back-to-back years of fare hikes was in the 1980s, its first decade since the agency was formed in 1979. During its first 11 years, the agency board approved eight rounds of fare hikes, and the individual increases were also fairly large, ranging from 9% to 22%. ...