Port Authority's $9.4B Budget Includes Fare Hikes

The Port Authority of New York and New Jersey has proposed a $9.4 billion budget for 2025, which includes toll and fare hikes to address pandemic-related losses and inflationary pressures. PATH single-ride fares are set to increase from $2.75 to $3, alongside a new reduced fare program for riders with disabilities with the introduction of the TAPP system. Bridge and tunnel tolls will see a 25-cent hike effective January 5, 2025, with additional inflation-based adjustments. The budget allocates $3.6 billion for infrastructure projects, including the rehabilitation of the George Washington Bridge and modernizing the PATH train system. The cost of the AirTrain project at Newark Liberty International Airport has surged by 75% to $3.5 billion due to COVID-related construction challenges. Public hearings for feedback on the proposed budget are scheduled, with a final decision expected by December 12.