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Fare Hikes Are Needed

Private Equity Fund Of Funds Transportation Commissioner James Fox seemed to have found a new and improved crystal ball earlier this week. He said he saw no need for additional NJ Transit fare hikes on top of the 10 percent increase that just hit.

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Curve Equity Exposed Fund This seemed to rule out the "cost-of-living" train and bus fare adjustments already scheduled for each of the next five years. Everyone else sees a looming need for cash so big that it is surprising NJ Transit hasn't put donation boxes at its stations.

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Equity Income Funds Now a spokesman says the commissioner meant no more fare increases this year. He was not judging what needs to happen in the future.

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Capital Casebook Equity This is obvious bureaucratic backtracking, but it had to be done. NJ Transit desperately needs the money, and it would be irresponsible to rule it out.

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Private Investment In Public The cost-of-living hikes are not unreasonable. They were approved by acting Gov. Donald DiFrancesco before he left Trenton last year and would allow fares to go up in tandem with an inflation index. That probably means 4 to 5 percent a year at most.

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Equity Mutual Funds It is real money out of commuters' wallets, but such modest hikes won't come close to plugging NJ Transit's projected five- year, $3 billion-plus shortfall. Each year the inflation adjustments would bring in something less than half the $38 million in new cash NJ Transit is getting from the 10 percent fare hike the agency put into effect earlier this week.

Birmingham Contact Equity But every little bit of additional revenue helps when money is hard to find. That is especially true when the public so bitterly opposes even the suggestion of a fare increase that politicians have developed a mortal fear of reminding people they must help pay for services. Indexing fares to inflation at least offers hope of rationality and stability in the fare-setting process.

Private Equity Investment Firm There is nothing wrong with treating fare hikes, toll hikes and tax hikes as revenue sources of last resort. The problem comes when officials are so paralyzed they won't consider increases even when no money is to be found elsewhere.

Complying Deal Equity Funds The result is that roads or trains are allowed to fall apart for years instead of being properly maintained. It's like using cardboard to patch the leaky roof on a house to avoid buying shingles. It saves financial pain now but guarantees more hurt later.

Equity Msn Private Wyoming DiFrancesco gave Gov. James E. McGreevey a generous parting gift when he spared him the political fallout of pushing through the modest fare hike plan.

American Equity Investment It's a gift the new administration cannot afford to disdain.

Equity Index Funds Star-Ledger - 4/4/2002

Topic: Transportation

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