NJ Transit board approves $2 billion operating budget that keeps fares flat

New Jersey Transit has approved a budget that includes no fare hikes for the fifth consecutive year.

The agency's board of directors unanimously approved the spending plan during Wednesday's monthly meeting in Newark.

The $2 billion operating budget contains no fare hikes. Fares last rose by up to 25 percent on NJ Transit rail and bus lines in 2010.

Passenger revenues are projected to rise by about one percent in the current fiscal year, which began July 1.

NJ Transit's board also approved a $1.2 billion capital program that includes $180 million for infrastructure improvements. About $470 million of the capital program will be funded from the state Transportation Trust Fund, with approximately $700 million coming from federal sources.