NJ Transit may finally have dedicated funding, but still needs a …

Mar 12, 2024 · Changing that is the agency’s first source of dedicated funding since it was created, through Gov. Phil Murphy’s proposed business transit fee, which places a 2.5% tax …

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NJ Transit May Finally Have Dedicated Funding, But Still Needs A …

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Mar 12, 2024 · Changing that is the agency’s first source of dedicated funding since it was created, through Gov. Phil Murphy’s proposed business transit fee, which places a 2.5% tax …

nj.com

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

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Jul 25, 2024 · NJ Transit’s board approved a $3 billion operating budget that will spend the last …

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No Fare Hikes In NJ Transit's $2.9B Budget, But Fiscal Cliff Still ...

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Jul 20, 2023 · NJ Transit’s board approved roughly $2.9 billion in spending for the 2024 fiscal …

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Statement From Governor Murphy On $300 Million In Federal …

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Nov 15, 2024 · This $300 million in grant funding from the Federal Railroad Administration will …

nj.gov

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$112M Coming To Fix Rail Woes Blamed For NJ Transit, Amtrak …

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Nov 14, 2024 · The problematic overhead wires and signal on Amtrak's Northeast Corridor line …

nj.com

FAQs about NJ Transit may finally have dedicated funding, but still needs a … Coupon?

Does NJ Transit have a dedicated source of funding?

Unlike transit agencies in most other states, NJ Transit has no dedicated source of funding. The agency’s budgetary needs are met annually through a series of diversions and transfers, a practice NJ Transit will continue into the next fiscal year. ...

Will NJ Transit meet a $1 billion funding shortfall?

(Fran Baltzer for New Jersey Monitor) NJ Transit’s board approved roughly $2.9 billion in spending for the 2024 fiscal year Wednesday night that comes with no fare hikes, but it remains unclear how the long-struggling agency will meet the $1 billion-plus funding shortfall it faces in the coming years. ...

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. ...

What is NJ Transit's budget?

This year, NJ Transit is operating under a $2.65 billion budget just approved by its board earlier this month. With revenue from fares still affected by the pandemic, the agency’s budget was balanced with nearly $1 billion in federal pandemic aid, according to budget documents. ...

Should NJ Transit be funded in the fy25 budget?

But it doesn’t have to be this way. Together, Gov. Murphy and the Legislature can enact a dedicated funding source for NJ Transit in the FY25 budget, ensuring that public transportation remains viable, efficient, and accessible to all. ...

Does NJ Transit have state aid?

Most public transportation agencies are designed to have an operating deficit to keep fares affordable. That budget gap is then filled using state aid, a mix of dedicated taxes, fees or surcharges. NJ Transit, however, is an anomaly because it doesn't have state aid dedicated to the agency by law. ...