With a 15% fare increase looming, will Gov. Phil Murphy’s proposed business transit tax solve NJ Transit funding problems and avert a fare increase?
Up to now, funding NJ Transit’s operating budget has been a roller coaster over the decades, going up or down depending on the whims of the governor who’s in office.
Murphy proposed a Corporate Transit Fee, announced in his Feb. 27 budget address, would provide $859 million in funding for Fiscal Year 2026, which will avert a $766 million gap in upcoming NJ Transit budgets. For now, NJ Transit is largest transit agency in the nation without a dedicated funding source for operations, but that would change under this proposal.
