The New Jersey Transit budget is in limbo. The agency’s board met this week but could not pass a new budget for the 2022 fiscal year because of an ongoing dispute with New York over how to split incoming federal funding. NJ Transit needs the money to make good on its spending plan. Instead, the board voted to extend the current budget while it works on securing that money.
A pot of more than $14 billion in transit relief aid through the CARES Act is to be shared among three states. This week New York’s Metropolitan Transportation Authority laid claim to about $10 billion of that money based on revenue losses and a ridership formula. NJ Transit isn’t agreeing, saying it would lose more than $600 million needed to avert fare hikes and service cuts.