Port Authority officials unveiled an ambitious $45 billion capital plan Thursday that funds expanding Newark Airport, long-sought after PATH rail service increases and construction of a new bus terminal.

But those projects and improvements comes with higher fares and tolls to fund them.

The bi-state agency also introduced a $10.1 billion, 2026 budget that funds the phase in of more frequent PATH service starting in March and includes the groundwork to replace Newark Airport’s Terminal B.

The PATH service improvements to be phased in between March 2026 and 2027 will cost $19 million in the budget. That will require a phased in 25-cent fare increase starting in summer 2026 and annual 25-cent increases each January from 2027 to 2029.

Fares only cover 25% of PATH’s costs, with the Port

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