New Jersey Transit plans to raise fares 15%
NEW JERSEY (WABC) -- Facing a ballooning deficit and lower ridership, New Jersey Transit has announced plans to raise fares by 15 percent on July 1 and by an additional 3 percent annually.
The fare hike on its bus and train network would be the first since Governor Phil Murphy took office 6 years ago.
New Jersey Transit has been struggling with a significant drop in ridership since the COVID-19 pandemic began in early 2020.
Ridership has returned to only 80 percent of pre-pandemic levels, resulting in a reduction of nearly $2 billion in fare revenue.
While NJ Transit received billions of dollars in federal aid, the agency says that money is nearly exhausted.
In July, NJ Transit estimated a $119 million deficit for the next fiscal year.
The agency plans to reduce that deficit through $44 million in cost reductions and $52 million in revenue enhancements but says the fare hike is needed to close the remaining gap.
NJ Transit will hold 10 scheduled public hearings in 10 New Jersey counties, including both morning and evening sessions, beginning Monday, March 4, 2024, through Friday, March 8, 2024.
Customers may visit www.njtransit.com/hearing for more information regarding the fare adjustment proposal, the public hearings, and to submit comments/questions electronically.
PUBLIC HEARINGS: SCHEDULE & LOCATIONS
Monday, March 4, 2024 __________________________11:00 AM - 1:00 PM
CHERRY HILL (Camden County)
Cherry Hill Public Library - Conference Center
1100 Kings Hwy N, Cherry Hill, NJ 08034
Monday, March 4, 2024 __________________________6:00 PM - 8:00 PM
ATLANTIC CITY (Atlantic County)
Atlantic City Convention Center - Meeting Room 309
1 Convention Blvd, Atlantic City, NJ 08401
Tuesday, March 5, 2024 10:00 AM - 12:00 PM
PATERSON (Passaic County)
Passaic County Community College - Paterson Room
1 College Blvd, Paterson, NJ 07505
Tuesday, March 5, 2024 6:00 PM - 8:00 PM
HACKENSACK (Bergen County)
Bergen County Administration Building - Conference Center
2 Bergen County Plaza - 1st Floor, Hackensack, NJ 07601
Wednesday, March 6, 2024____________________10:00 AM - 12:00 PM
TRENTON (Mercer County)
Trenton Transit Center
72 S Clinton Ave, Trenton, NJ 08609
Wednesday, March 6, 2024_____________________6:00 PM - 8:00 PM
BELMAR (Monmouth County)
Belmar Municipal Building - Council Chambers
601 Main St, Belmar, NJ 07719
Thursday, March 7, 2024 ____________________10:00 AM - 12:00 PM
WOODBRIDGE (Middlesex County)
Berkeley College Woodbridge Campus Student Center
430 Rahway Ave, Woodbridge Township, NJ 07095
Thursday, March 7, 2024 ______________________6:00 PM - 8:00 PM
UNION (Union County)
Kean University - North Avenue Academic Building - Conference Center, Room 606
1000 Morris Ave - 6th Floor, Union, NJ 07083
Friday, March 8, 2024 _________________________10:00 AM - 12:00 PM
SECAUCUS (Hudson County)
Frank R. Lautenberg Rail Station - Long Hallway
County Road & County Avenue, Secaucus, NJ 07094
Friday, March 8, 2024 __________________________6:00 PM - 8:00 PM
NEWARK (Essex County)
NJ TRANSIT Headquarters - Board Room - 9th Floor
1 Penn Plaza East, Newark, NJ 07105
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