Coronavirus Update: NJ Transit seeks $1.25B bailout due to COVID-19
NEW JERSEY (WABC) -- NJ Transit is asking for a $1.25 billion bailout from the federal government to make up for revenue losses and higher expenses during the coronavirus pandemic.
NJ Transit has seen a dramatic 88 % reduction in system-wide ridership since Monday, March 9th. Fare revenue has plummeted correspondingly.
NJ Transit expects this precipitous drop to continue as far fewer riders are expected to purchase monthly passes starting this week.
The company's operating costs have risen due to COVID-19, including significantly enhanced cleaning procedures system-wide, such as expanded disinfection regimens onboard vehicles every 24 hours, and at major stations and terminals on each shift throughout the day.
NJ Transit says they need the emergency federal funding "so that current programs for capital projects and state of good repair funding are not cannibalized, at the expense of system safety and operations."
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