NJ Transit board approves 15% fare hike proposal
NEW JERSEY - The NJ Transit board approved a 15% fare hike proposal that will start in July.
Fares will be raised by 3% each year after that.
The proposal also calls for $96 million in cuts to help close a more than $100 million budget deficit.
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NJ Transit fare hike plan: Tickets for trains, buses to increase by 15%
NJ Transit plans to raise train and bus ticket fares by 15%, according to a new proposal.
However, the vote happened before a study was completed on fares, service and consolidation.
According to NorthJersey.com, the study would take a deeper dive into the agency's finances, recommendations about how to cut costs and considerations of whether annual fare hikes are even necessary.
A NJ Transit spokesperson confirmed with the paper that the study recently began, but wouldn't say when.
A person boards a NJ Transit train at the Hoboken Transit Terminal. (Photo by Gary Hershorn/Getty Images)
The agency held hearings on the proposal last month. In addition to inflation, they claim it has had to factor in contractual wage increases and more expensive health care.
NJ Transit has been dealing with a massive drop in ridership since the beginning of the pandemic, also exhausting billions of dollars in federal aid.
Ridership has returned to about 80% of pre-pandemic levels, but officials said that's simply not enough to balance the budget.