In our spotlight on Business report,
free rides for New Jersey Transit customers for one week. Governor Murphy today announcing a fare
holiday for riders will take place August 26th through September 2nd. It's meant to serve as an apology
to commuters who dealt with a brutal summer of delays
and cancellations. During that time, fares will be waived on all New Jersey
transit busses, trains and light rails. Monthly customers will get a 25% discount
on September passes. A spokesperson for NJT today
confirmed the week of free rides will cost the agency about $19 million. It all comes after a 15%
fare increase went into effect this July. That was the first in nine years
with plans for a 3% annual increase in the coming years
to help cover a budget shortfall. And it comes on the heels
of a new business surtax aimed at boosting finances
for the troubled agency. Well, the head of New Jersey's
Business and Industry Association today said the announcement, quote, smacks of unfairness
to the state's business community, saying it sends a frustrating message
since none of the money has been committed to New Jersey
Transit this year. I think it's the least we could do. We are fixing it. We just raised a corporate transit fee that will raised annually
between 800 million and $1,000,000,000 to do what NJ Transit needs
to be done to get new equipment, etc. that's going to take care of itself. This is a tip of the cap to say thank you. Thanks for your patience. We're not you're not happy
with the performance this summer? Neither are we.