Updated: Jun 20
May 4, 2023 | njspotlightnews.org
From buses to trains, the head of New Jersey Transit detailed Wednesday exactly how the COVID-19 pandemic changed ridership patterns and continues to shape the agency’s long-range fiscal projections.
For now, the statewide bus and rail system has enough funding to get through the fiscal year that begins July 1 with a balanced budget and no fare increases, even as overall ridership remains about 25% lower than pre-pandemic levels.
NJ SEED: A viable NJ Transit is essential to NJ’s economy. It looks to be financially sound for the coming fiscal year, but there could be problems ahead and fare increases are not off the table.