NEW JERSEY (CBS) — Gov. Phil Murphy unveiled a new transit budget Tuesday that will provide a sizable financial boost to improve operations and firm up the agency’s financial base.

Murphy reinforced his commitment to improving NJ Transit with the new $242 million budget. He says there are thousands of New Jerseyans who rely on the agency to get them to and from work, and for too long that service has been lacking.

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“We’ve already delivered the first positive impact of this historic investment, straight to the wallets of the traveling public,” he said. “And that is, that there will be no fare hike at least through the end of Fiscal 2019.”

The actual date: June 30, 2019.

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“We are focused squarely on improving the delivery of services and the customer experience while simultaneously restoring New Jersey transit’s fiscal stability,” he said.

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Part of the plan is to spend $19 million dollars on 114 new hires, $4 million to improve bus and rail to New York City and the Meadowlands, another $4 million to enhance scheduling, and $148 million to improve the transit agencies financial foundation.