Tag: Federal bailout

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Port Authority of New York and New Jersey Posts Single Worst Quarter on Record

Kevin O’Toole.

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.

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NJ Voters Want Benefits Reform, Government Savings not Tax Increases or Borrowing to Close State Deficit

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the staff of the Ridgewood blog

Ridgewood NJ,  As the effects of the COVID-19 pandemic on the State of New Jersey’s finances begin to emerge, residents of the state have a clear message to Governor Murphy and legislative leaders:

“Reform public employee benefits and reduce the cost of government

before you consider raising taxes”

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NJ Transit is seeking $1.25 billion of Federal Bailout

Ridgewood Train Station

the staff of the Ridgewood blog

Ridgewood NJ, NJ Transit is seeking $1.25 billion of federal aid to make up for a plunge in fare revenue in the wake of the new coronavirus, according to a letter the agency sent to the state’s congressional delegation.

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