the staff of the Ridgewood blog
Ridgewood NJ, as expected the New Jersey Transit Board of Directors unanimously approved a 15% fare increase on Wednesday morning, marking the first hike in nearly a decade.
The decision followed an hour of public opposition to the increase, highlighting concerns over the financial strain faced by NJ Transit. The agency is grappling with a budget deficit exceeding $100 million for the upcoming fiscal year and nearly $1 billion projected for the following year. These challenges mirror those encountered by mass transit systems nationwide, attributed to shifts in commuter habits and remote work trends post-pandemic, resulting in decreased ridership.
Current ridership levels stand at only 80% of pre-pandemic figures. While federal funds have been utilized to bridge the financial gap, they are anticipated to be depleted soon.
The approved fare hike, slated to take effect on July 1, will be accompanied by a 3% annual increase commencing in 2025. This move marks the first fare adjustment during the Murphy administration, with NJ Transit aiming to stabilize its finances through regular fare adjustments, a strategy akin to the approach adopted by the MTA and other transit agencies.
In addition to the fare increases, NJ Transit will discontinue the flex plan and impose a 30-day expiration period on one-way tickets.
Notably, the proposal for a 15% fare increase coincides with the state’s legal action against the MTA’s congestion pricing initiative. This plan, which imposes a daily $15 fee on drivers in Manhattan’s Central Business District to support mass transit in New York, is slated to roll out in mid-June amidst ongoing legal challenges.
Governor Phil Murphy has also put forth a corporate transit tax proposal, seeking a 2.5% levy on companies earning over $10 million annually, aimed at addressing NJ Transit’s looming budget shortfalls. This proposal will undergo legislative deliberation ahead of the July 1 budget deadline.
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But they have a great new location in a Class A office building.
And it ain’t gonna pay for itself.
Look at Ridgewood train station, we spent 25 million a few years back and they never replaced the windows. Go faster today you can’t even open them. They’re covered up with plexiglass disgrace talk about screw ups who was running that job, we don’t forget, and we are not forgiving.
the underpass scares me when im stuck at the red light
Time to NJ red!
That under pass is all ways dirty.why
…but they’re fighting Congestion Pricing.
Mixed Messages here (or hypocrisy)