NEW JERSEY (PIX11)– NJ Transit announced its plans to raising fares — for the first time in five years — and service cuts Monday in order to address a significant budget deficit. It would work out to an approximate 9 percent increase for commuters.
In a press release, a spokesperson said the statewide transit system faces an approximate $60 million gap for the 2016 fiscal year and would need to close it through fare and service adjustments.
Costs such as contract services, health care and benefits, general liability insurance, workers’ compensation and pensions have steadily risen, contributing to the major deficit, the release said.
NJ Transit will hold nine scheduled public hearings and one information session beginning Saturday, May 16 before the plan is considered by the Board of Directors on July 8.