The Fund NJ Transit Coalition today is grateful to see a potential solution to the New Jersey Transit funding crisis up for a vote.
As NJ Transit faces a fiscal shortfall of up to $1 billion for FY2026, we are tentatively optimistic to hear credible reports that the state’s most profitable businesses are expected to pay higher taxes for the next five years to fund transportation in the state.
While the preliminary agreement on the corporate transit fee, which is also expected to be applied retroactively, is part of a principal budget agreement between state lawmakers and Gov. Phil Murphy’s office, other details are still being finalized on the proposed $56 billion spending plan.
We look forward to seeing the finalization of these details and celebrating a firm step in the right direction toward fully funding the nation’s largest statewide public transit system.
