NJ Transit will propose a 15% fare increase in its fiscal year 2025 budget, the first fare hike proposed in almost 10 years.
The increase is intended to avoid an approaching $119 million budget shortfall, which the revenue and cuts reduced to $106 million, officials said during a media briefing on Wednesday.
The plan calls for a 15% fare increase that would be voted in April and take effect on July 1. That increase will be followed with subsequent 3% increases to be taken annually on July 1 of each year with no sunset date. Officials speaking on background said they made $44 million in reductions to the Fiscal Year 2025 budget, but service levels will not be cut.
