The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
New York NY, the Port Authority of New York and New Jersey is moving forward with its plan to reimagine the world’s busiest bus terminal with the launch today of the federal environmental review process and announcement of a total of four public meetings to be held virtually on June 23 and 24.
photo Chairman Kevin O’Toole
the staff of the Ridgewood blog
Fort Lee NJ, Today the Port Authority of New York and New Jersey released its six-month financial results which revealed an approximately $777 million decline in revenues through June 30, 2020 as compared to the agency’s budget, with additional losses against 2020 Budget expected through the balance of the year. Since the full force of the Covid-19 crisis started in March, the agency’s revenue loss has averaged $240 million per month as compared to budget. Based on these results, together with the forward-looking forecasts, the Port Authority continues to project a $3 billion loss in revenues for the 24-month period ending March 2022.
Continue reading Port Authority of New York and New Jersey Posts Single Worst Quarter on Record