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 New Jersey Turnpike Authority has approved a deal to make tens of millions of dollars in annual loan payments to finance New Jersey’s share of a $16 billion rail tunnel project.
The New Hampshire Executive Council has nixed a plan to connect Boston’s commuter rail system to the Granite State, which some have described as a “boondoggle” for the state’s taxpayers.
As one of the largest transit agencies in the country, The New Jersey Transit Corporation saw its ridership plummet and took in billions of federal money to keep operations running during the pandemic