NJ Transit, Amtrak experience delays at Penn Station New York due to disabled train
What concession is offered to businesses against the transit tax?
The concession offered to businesses against the transit tax is that the state will not pursue restoring the sales tax to 7% from 6.625%, which is a major point of contention for the businesses. This agreement is in place for the 600 corporations in the state that make at least $10 million a year in profits, who will pay a 2.5% tax on all earnings for five years.
What is the purpose of the proposed 2.5% tax on profitable companies?
The proposed 2.5% tax on profitable companies in New Jersey aims to generate funds for NJ Transit, a public transportation system facing budget shortfalls. The tax would apply to businesses with more than $10 million in profits, and the revenue generated would help address NJ Transit's fiscal challenges and avoid service cuts and fare increases for commuters.
How long did the Tuesday morning delays at Penn Station last?
The Tuesday morning delays at Penn Station lasted for a couple of hours, with 30-minute delays starting just before 9:00 a.m. due to a disabled train. This followed a service suspension and delays because of overhead wire issues during the Monday evening commute, impacting both NJ Transit and Amtrak.