NJ Transit Seeks $1.25 Billion Federal Aid Amid Rider Drop
- Plea for help for buses, trains after MTA’s $4 billion request
- New Jersey agency also worried about gas-tax revenue source
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New Jersey Transit is seeking $1.25 billion of federal aid to make up for a plunge in fare revenue in the wake of the new coronavirus, according to a letter sent by the agency to the state’s congressional delegation.
Ridership has dropped 88% since March 9 on buses and trains operated by the nation’s largest statewide mass-transportation provider. The financial toll will be “extraordinary and beyond anything experienced in our company’s history,” Kevin Corbett, NJ Transit president and chief executive officer, wrote in a seen by Bloomberg.