U.S., New Jersey: New Jersey Transit seeks $1.3 Billion in federal aid

From Bloomberg, Crain’s New York Business; March 19, 2020

NJ 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 the agency sent 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 letter seen by Bloomberg.

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