Public transit agencies that can’t find new funding or make cuts could face a fiscal cliff, according to the latest report on the sector from S&P Global Ratings.
New Jersey has routinely raided the state’s Clean Energy Fund to cover unrelated state budget gaps, diverting almost $2 billion since 2010 away from a fund intended to reduce fossil fuel reliance, according to a new report released Thursday.
The Metropolitan Atlanta Rapid Transit Authority recently unveiled the first of its new railcars for its network. The $646 million cars are expected to start service in 2025.
Amtrak saw a big increase in ridership in fiscal year 2022 but is still at 72% of its peak pre-pandemic levels, according to data the transit company released.