NJ Transit to Implement 15% Fare Hike to Address Budget Deficit
New Jersey Transit plans to raise fares on its bus and train network by 15% on July 1, with an additional 3% increase annually thereafter, marking the first fare hike in over six years. The agency, facing a significant budget deficit and decreased ridership due to the pandemic, has received federal aid but still anticipates a deficit of over $100 million in the next fiscal year. The fare increases would result in some commuters' costs rising by more than $3 each way, with the agency citing the need for increased revenue from riders to address the financial shortfall.