Both NJ Transit and the Port Authority have similar multi year Capital Plans. This is supposed to raise $15 billion that which will help pay for the MTA $51 billion 2020 – 2025 Five Year Capital Plan. The MTA estimates it will generate $1 billion annually. The latest schedule calls for implementation of tolling to start in December 2023 or some time in 2024. Murphy can also negotiate an agreement with Hochul to obtain future funding for NJ Transit’s Penn South under the MTA’s planned Congestion Pricing. These include New Jersey Transit’s Hudson Bergen Light Rail Minimum Operating Segment One ($992 million), Segment Two ($1.2 billion), Newark Elizabeth Light Rail ($694 million) and Secaucus Transfer ($450 million.) This federal funding source previously helped finance several major New Starts projects New Jersey.
NJ Transit can work with the Federal Transit Administration and request that Penn South gain official admission into FTA’s national competitive discretionary Capital Investment Grant New Starts Core Capacity program for future funding.
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