New Jersey Transit Planning To Raise Fares By 15% This Summer

In a move to address a severe budget shortfall, New Jersey Transit announced on Wednesday a plan to implement a fare increase across its bus and train services starting July 1. The proposed hike will see fares rise by an initial 15%, followed by an annual increase of 3% thereafter.

This marks the first fare adjustment under the administration of Governor Murphy, who has been in office for six years.

The transit agency, which has been grappling with a significant drop in ridership since the onset of the COVID-19 pandemic in early 2020, faces a challenging financial situation. Despite receiving billions in federal aid, the agency has nearly exhausted these funds, and in July, New Jersey Transit reported facing a daunting deficit exceeding $100 million for the upcoming fiscal year. While efforts to reduce this deficit were made, the agency emphasized the necessity of increasing revenue from fares to achieve financial stability.

The impact of the fare hike will be felt by commuters across the state. For instance, a bus journey from Toms River to the Port Authority Bus Terminal in Midtown Manhattan will cost $24.40, up by $3.15. Similarly, a one-way ticket from Princeton Junction will see an increase of $2.40, bringing the cost to $18.40. These fare changes are part of the agency’s strategy to navigate through its current fiscal challenges.

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