It's two weeks away from a potential strike by engineers who operate the trains for New Jersey Transit. Engineers say they could walk off the job on May 16.

New Jersey Transit has put forward a new contract offer.

Union leadership representing the Brotherhood of Locomotive Engineers and Trainmen is looking it over and a counteroffer is expected next week.

MORE: Commuters watch, and worry, as NJ Transit gets ready to restart talks with engineers

“We simply cannot continue at making 20% to 25% less than engineers on every other passenger railroad," said Tom Haas, head of the union. “The BLET has conceded to 90% of what New Jersey Transit has asked for.”

However, the CEO of New Jersey Transit has said he’s not willing to sign off on paychecks, which Kris Kolluri says would force fares up by 17%.

Kolluri says engineers are asking for $190,000 in annual salaries.

“It’s a nice dream, I don’t blame them for that but there’s a reality check,” said Kolluri. “What we cannot embrace is a small group of people somehow saying to the 9 million taxpayers of New Jersey that they are entitled to a $ 55,000-a-year average pay raise."

A transit strike hasn’t taken place since 1983.