The agency says it needs the additional revenue the hikes will generate to pay for a new 10-year capital investment plan, maintain security, and complete the over-budget World Trade Center.
The Port Authority said the additional revenue is necessary to pay for new bus projects and much-needed fixes for bridges, roads and airports.
New Jersey Gov. Chris Christie is putting in his two cents when it comes to the proposed massive toll and fare hike from the Port Authority of New York and New Jersey.
“These increases will raise costs on families, hinder economic development, and raise the costs of doing businesses in a region which is expensive enough,” New York State Senator Charles Fuschillo, Jr. said.
If they don’t win approval, completion of the World Trade Center and key upgrades at area bridges and airports might not happen. A $1 increase in PATH train fares is also being sought as part of a revenue raising plan the agency says it needs for an “infrastructure overhaul.”
With New Jersey’s unemployment rate outpacing the nation, Gov. Chris Christie visited Port Newark on Wednesday to tout a $500 million deal that could lead to 800 new jobs.
The 151-foot-high road deck on the span connecting Bayonne with Staten Island is not high enough to accommodate the next generation of larger container ships.
The Port Authority of New York and New Jersey approved a $7.2 billion budget that holds the line on tolls and will eliminate 200 jobs through attrition next year.
The 151-foot-high road deck on the span is not high enough to accommodate the next generation of larger container ships.