TRANSIT: NJ Transit set to vote on 2014 budget

The board of NJ Transit was expected to vote on a proposed 2014 fiscal year operating budget of $1.94 billion on Thursday, in addition to a $1.2 billion capital spending plan. The agency does not expect to raise fares as a result of the increased budget.

The number would represent a $37 million increase from the 2013 budget, with 53% being drawn from passenger fares and commercial revenue.

Items on the NJ Transit board’s list for capital spending include new buses, multilevel rail cars and dual-powered locomotives; $691 million in maintenance and debt service; $42 million for infrastructure improvements along the Northeast Corridor; and $53 million for rail equipment improvements.

The agency is also expected to set aside nearly $30 million for transportation assistance for senior citizens and disabled residents, rural and small urban areas and low-income workers.