In an effort to prevent NJ Transit customers from being forced to cope with fare hikes, Senator Robert Singer has sponsored legislation to find alternative ways to fund climbing expenses at the troubled agency.
The legislation, which would establish the “New Jersey Transit Alternative Revenue Task Force” was today advanced by the Senate Transportation Committee.
“Commuters have sacrificed enough. They shouldn’t have to pay more,” Senator Singer (R-30) said. “Fare hikes are not the answer. We know that there are other ways to save money and get NJ Transit back on track. This legislation will pave the way for cost-saving solutions at the agency, such as better advertising or selling off real estate holdings.”
45 percent of NJ Transit’s operating and maintenance costs are currently funded through farebox revenues. Only 4 percent of operation funding is derived from commercial revenues.
Senator Singer’s SJR-54 establishes a task force that would be charged with finding all potential opportunities for NJ Transit to generate new revenue, without increasing fares.
“I am confident that this task force can help us find alternative funding sources for NJ Transit, such business-to-business programs, real estate development, and public-private partnerships,” Senator Singer added. “I hope to see this legislation advance quickly. NJ Transit customers need our help now.”