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For Third Year NJ Transit Budget Holds Fares Steady

Ridgewood Train Station

For Third Year NJ Transit Budget Holds Fares Steady
July 12, 2012
the staff of the Ridgewood blog

Ridgewood NJ, New Jersey Transit’s Board approved a $1.904 billion operating budget and a $1.152 billion capital program for the fiscal year that started July 1.Transit (NJT) approved a Fiscal Year 2013 operating budget and capital program will keep fares steady for a third year in a row .
Almost  half of the capital budget comes from the Transportation Trust Fund, with the balance coming from federal and other sources.

NJ Transit officials are also reconsidering the very unpopular 2-year-old decision of  May 2010 that ended off peak discounts for weekend rail passengers and other off-peak hours. This decision was coupled with an average fare hike of 22 percent ,led off-peak riders to pay nearly 50 percent more and in come cases 64 percent more. According to NJT officials nearly 20,000 NJ Transit customers a day or 17 percent of rail customers  use round-trip tickets during off-peak hours,  Sources claim that off-peak ridership has risen about 2 percent since the fare increases , while overall rail ridership is down almost 2 percent during that same period.

In a cost-cutting move, the board adjusted service on six bus routes and discontinued four others with low ridership.The bus reorganization will save NJ Transit $2.5 million. NJT plans to reinvest $1 million of it into new projects, including 24-hour bus service between Newark Penn Station, Newark Liberty International Airport and Elizabeth.

The $1.15 billion capital program, supports fleet modernization efforts for NJT buses , including the purchase of more than 1,400 new buses, more than 400 multilevel rail cars and  50 electric and dual-power locomotives.

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