BUSINESS REPORT

NJ Transit asks for $1.25B in federal aid

BY Rhonda Schaffler, Correspondent |

NJ Transit is seeking $1.25 billion in emergency federal funding as COVID-19 decimates its operations. Systemwide revenue is down 88% since Monday March 9.

The state Board of Public Utilities held an emergency meeting and voted to ban all public utilities from making any unnecessary visits to homes and businesses. This, after one utility worker tested positive for COVID-19. The BPU did not disclose which company that employee works for.

We have the first piece of evidence of the economic impact from COVID-19 as unemployment claims in the U.S. had their biggest one-week increase since after Superstorm Sandy.