
Route 1 near Princeton – operated by NJDOT using funds from the New Jersey gas tax. (click to expand)
This week, Governor Christie is expected to sign into law a new deal to fund the New Jersey Transportation Trust Fund (TTF). The TTF, which funds state transportation projects, had reached a point where existing funds could only pay off interest on bonds taken out to pay for previous projects – no money was left to start new projects to build roads, repair bridges, or make needed improvements to help people move around the state. After months of haggling, the NJ State Assembly and Senate passed a deal last week, which will see the state gas tax increase to provide new funds for the TTF. In exchange – and in response to demands form Governor Christie – the state sales tax will be trimmed, along with a blend of other tax cuts, including phasing out the estate tax. We called for a gas tax increase years ago, and although the deal is messy and overdue, it is still necessary. Continue reading →