Here's how it breaks down:
The agency's board of commissioners will unveil the plan at its 2 p.m. meeting today, when it is also expected to propose raising tolls on Hudson River crossings from $6 to $8 during peak hours. Motorists would pay $6 during off-peak hours.The agency is looking to pump $1 billion more towards the THE Tunnel, a new rail tunnel connecting New Jersey with New York for both NJ Transit and Amtrak rail service in a bid to relieve congestion. The money would also go to defraying costs of buying new PATH rail cars and upgrades to the system.
E-ZPass users would lose the $1 discount they get during peak hours, Port Authority officials said.
Peak hours are 6 to 9 a.m. and 4 to 7 p.m. on weekdays and noon to 8 p.m. on weekends.
On PATH, meanwhile, riders would pay 50 cents more, bringing the fare to $2 per trip under the agency's plan.
None of the hikes would occur until next year.
The bi-state agency said it needs more money to pay for capital projects and escalating security costs that have tripled since 2000.
However, a 50 cent increase in fares would be a 33% jump in prices over the base fare, although multiple passes drop the current cost of $1.50 per ride to $1.20 per ride. If you're trying to get people off the roads and onto mass transit, raising the fares on PATH isn't going to cut it - and it adversely affects those on low or fixed incomes.
No matter how you cut it, the heaviest tax burdens in the country (New Jersey and New York) are about to become that much heavier and the cost of living in the region will continue to increase as well, although the Port Authority claims that the money will go to relieving congestion and the construction of new links and service between the two states.
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