Latest news with #NJTransit
Yahoo
a day ago
- Business
- Yahoo
Republicans running to become New Jersey governor want tax cuts
Republicans seeking New Jersey's governorship are united in wanting to cut taxes, though their favored methods differ. (Illustration by Alex Cochran for New Jersey Monitor) Republicans hoping to reclaim New Jersey's governorship are largely united on how to make New Jersey more affordable. They want to cut taxes. Though virtually all five of the GOP candidates to succeed Gov. Phil Murphy support some form of tax cut — whether through rate changes or awards to offset locally set property taxes — they differ some on the details. The primary is June 10. State Sen. Jon Bramnick lauded a longstanding Republican proposal to adjust New Jersey's income tax brackets for inflation to combat a phenomenon called bracket creep. GOP legislators have argued that because the state's income tax brackets are not indexed for inflation, residents' tax rates increase over time with their incomes, cutting into any gains in purchasing power. Bramnick also suggested simplifying New Jersey's tax brackets, though he did not detail those proposed changes. He said the combined changes would produce $1,600 in annual savings for joint filers, or $1,000 for single filers. He also proposed requiring school districts to return excess state aid to their property taxpayers, saying it would lower average residents' property tax bills by $800. State school aid, pegged for just over $12 billion in the fiscal year that begins July 1, is funded with income tax revenue. Former Assemblyman Jack Ciattarelli likewise said he would condense New Jersey's income tax brackets, adding he would 'reduce income taxes for all taxpayers' and introduce exemptions and deductions for home improvements and student loan interest. His platform provides no specifics about either plan. Ciattarelli, who sought the governor's seat unsuccessfully in 2017 and 2021, pledged to reduce New Jersey's corporate business tax rates by five points over as many years. Currently, New Jersey taxes its businesses on non-marginal rates ranging between 6.5% and 9%, depending on net income. Businesses with more than $10 million in income face an additional 2.5% non-marginal surcharge for what's called the corporate transit fee (which is intended to fund NJ Transit). Counting the surcharge, New Jersey has the highest state business tax rates in the nation. Without it, the Garden State's rates are the nation's fourth highest. Ciattarelli said he would cap property tax rates to a percentage of a home's valuation. Statewide, locally set property tax rates in 2024 averaged just over 2.6%, according to Department of Community Affairs data. Ciattarelli also seeks to reduce state spending by 30%, though it's not clear what programs he would slash to produce more than $17.4 billion in savings. Gov. Phil Murphy's budget plan for the next fiscal year calls for about $58.4 billion in spending. Longtime radio talk show host Bill Spadea's affordability plan offers few details. It proposes unspecified cuts to individual and business taxes and cites the large growth in spending under Murphy. Gov. Chris Christie's final budget called for $35.5 billion in spending for the 2018 fiscal year, 40% smaller than the final budget proposal of Murphy's second term. Much of those increases can be attributed to full funding of pension payments and school aid, which together rose by $7.6 billion between Christie's and Murphy's final budget proposals. The roughly 31% in inflation between the two budgets accounts for much of the remainder, though some budget items are not directly tied to rising prices. Former Englewood Cliffs Mayor Mario Kranjac's tax plan focuses mainly on property taxes. He said he would seek to cut property taxes, which are locally set, by 2% in each year of his term. The average property New Jersey tax bill was $10,095 in 2024, according to Department of Community Affairs data. He also said he would seek to cut regulations and business taxes to encourage small business growth but did not provide specifics about either proposal. Burlington County contractor Justin Barbera has said he would seek to lower taxes for New Jerseyans without children and lower or remove them for seniors, veterans, and those with disabilities. The details of those proposals are unclear. Here's how the Democrats running to be governor say they'll make New Jersey more affordable
Time Out
3 days ago
- Time Out
The East River Tunnel shutdown is going to mess up your LIRR commute—here's what to know
Your LIRR commute just got a lot more complicated. As of Friday, May 23, Amtrak officially began a three-year, $1.6 billion rehabilitation of the East River Tunnel, a project that has already set the stage for delays, congestion and general commuter chaos. The work involves a full closure of two of the four century-old tubes beneath the East River, which serve as critical infrastructure for Amtrak, NJ Transit and the Long Island Rail Road. And while Amtrak insists the full gut renovation is necessary to fix lingering damage from Superstorm Sandy, LIRR officials and Governor Kathy Hochul argued for a less disruptive approach. For months, state leaders pushed for a 'repair-in-place' plan, similar to the L train fix, which would have kept daytime schedules intact. But Amtrak held firm, citing safety concerns and the need to fully replace power, signal, track and fire-safety systems to meet modern standards. They maintain that patchwork repairs aren't feasible in a high-speed, high-voltage environment like this. Line 2 was taken completely out of service Friday night and will remain offline for 13 months. After that, Line 1 will shut down for another extended stretch. During this time, Amtrak and NJ Transit will prioritize the two remaining tubes, forcing the LIRR to share limited tunnel space and warning of possible schedule disruptions for its 125,000 daily riders. LIRR leadership previously called a full shutdown 'catastrophic,' as reported by the New York Daily News. Amtrak has promised to minimize the pain with extra inspections, more crews and emergency locomotives on standby. Still, the fallout is already being felt. 'With the onset of the spring and summer travel seasons, it's imperative that New Yorkers have convenient and reliable passenger rail service to help them get where they want and need to go,' said New York State Department of Transportation Commissioner Marie Therese Dominguez. 'We want to continue to work with Amtrak to find a way to do this work without inflicting unnecessary burdens on New Yorkers.' Despite the outcry, the project is underway—and your commute may never look the same until 2028. So if your train feels more packed or your schedule is off this week, now you know why. Brace for delays, grab a good book and maybe leave a few minutes earlier—just in case.
Yahoo
3 days ago
- Business
- Yahoo
Candidates for governor say how they would revamp NJ Transit
The candidates running to be our next governor say they would dedicate more funding to NJ Transit, monetize the agency's assets, and push Amtrak to improve infrastructure. (Photo by Edwin J. Torres/N.J. Governor's Office) The candidates running to become our next governor are making big promises to reform NJ Transit. The six Democrats seeking their party's nomination for governor on June 10 and the three Republican front-runners agree that the embattled public transit agency is broken, but they differ on what they'd do to address spotty service and funding problems. Eight years ago, Gov. Phil Murphy, a Democrat, began his first term pledging to fix NJ Transit even 'if it kills me.' Since then, he has touted new, modern train cars and buses and a dedicated funding source via a new tax hike on businesses, but major delays, rising fares and a recent, four-day strike by train engineers have caused headaches for commuters. Most candidates hoping to succeed Murphy said their top priority for NJ Transit is finding a financial fix. Jersey City Mayor Steve Fulop, a Democrat, criticized the new funding source — called the corporate transit fee — saying the 'system and current structure from Phil Murphy's not working.' Fulop said he would make that fee permanent. 'They only implemented it for five years, and you can't capitalize or bond on five-year revenue, so you need to change that into perpetuity. It's got to be in perpetuity,' said Fulop. Former state Sen. Steve Sweeney, a Democrat, said he would also make the fee permanent and would constitutionally dedicate the revenue from it to NJ Transit (the agency is expected to receive about $800 million from the fee in the next fiscal year). If that doesn't happen, Sweeney said, lawmakers can take some of the revenue to plug holes in the state's budget. 'That would be first and foremost because … you will see that money gone in three years if it's not dedicated, and New Jersey Transit needs funding,' he said. Sean Spiller, a Democrat and president of the statewide teachers union, said he also would stop transit funding from getting pulled into the state's budget and repurposed for other projects. That would be key to funding improvements that make service better, he said. 'We've got to dedicate those dollars and use them to make the step-by-step improvements that we can map out then when we have that plan, and own that and live by that plan and keep people updated,' he said. Republican state Sen. Jon Bramnick said he would turn to the federal government for funding help. 'We actually have infrastructure problems, and the major reform is you've got to get federal money on infrastructure. Otherwise, you're going to continue to have serious problems. That's the reform,' he said. Candidates on both sides of the aisle hammered Amtrak for failing to maintain the tracks along the northeast corridor that are used by NJ Transit. Sagging catenary cables and aging signals on Amtrak's lines are often assigned blame for NJ Transit's delays, especially last summer. NJ Transit gives Amtrak $200 million annually to rent the tracks, money Rep. Josh Gottheimer, a Democrat, said he would stop paying until the infrastructure problems are fixed. Gottheimer also said he would 'immediately replace' NJ Transit's aging trains and buses. 'The broader point is to keep people safe … that's why we need to fix these things,' Gottheimer said. Rep. Mikie Sherrill, a Democrat, said she would 'hold Amtrak accountable' for infrastructure upkeep but said her chief priority would be to spur more housing construction around transit stations. 'The long-term fix I would apply is transit-oriented development, which we're doing to some extent, but really use that as a long-term funding mechanism so that we have a dedicated source of revenue for New Jersey Transit,' Sherrill said. Newark Mayor Ras Baraka, a Democrat, said NJ Transit is too focused on the commuters who travel between New Jersey and New York and Philadelphia. Baraka said he would require the agency to pay more attention to New Jerseyans who use its trains and buses to get around the Garden State. 'I think that's important for us to do. Whether it's the light rail in Hudson/Bergen or buses in Glassboro/Camden or from Atlantic City to Newark, we begin to focus on moving people up and down and around the state of New Jersey, and using some of the capital dollars that we have to do that, as opposed to widening these roads,' he said. Jack Ciattarelli, the Republican nominee for governor in 2021, said he would make NJ Transit part of a new Garden State Transportation Authority along with the Atlantic City Expressway, the Parkway, and the Turnpike, to bring the agency under more state control. 'It'd be better for accountability and transparency and a better management structure,' Ciattarelli said. Bill Spadea, a Republican radio talk show host, said he'd monetize NJ Transit's assets by giving the properties they own 'back to the town' to be used as rateables. Spadea also said he'd 'close the system' by requiring riders to show their tickets before boarding trains. 'That should be processed like they do at the MTA and others, where you can't get on the platform until you show your ticket. That's going to cut down on millions of dollars in lost revenue,' Spadea said. Nikita Biryukov and Dana DiFilippo contributed. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
24-05-2025
- Yahoo
Man shot onboard NJ Transit bus in Newark
NEWARK, New Jersey (PIX11) — Police are investigating after a man was shot onboard an NJ Transit bus in Newark on Saturday morning, according to officials. The incident happened in the area of Bergen Street and Madison Avenue around 11:30 a.m., police say. More Local News Authorities tell PIX11 News the two men were passengers on the bus though it's still unclear what led up to the shooting. The victim was taken to the hospital with non-life-threatening injuries and is expected to recover, officials report. Dominique Jack is a digital content producer from Brooklyn with more than five years of experience covering news. She joined PIX11 in 2024. More of her work can be found here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Bloomberg
23-05-2025
- Business
- Bloomberg
NJ Transit Engineers Contract Will Hike Pay to Over $50 Per Hour
New Jersey Transit 's newly inked deal with its locomotive engineers would boost pay to more than $50 an hour, according to a person familiar with the negotiations. The starting hourly wage for NJ Transit engineers has been about $39.78 an hour, their union, the Brotherhood of Locomotive Engineers and Trainmen, said previously. The hike would bring the wages more in line with those at Long Island Rail Road and Metro-North Railroad. The union had been seeking parity with those neighboring agencies.
