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February 12, 2004

Bailing Out the NJ Transportation Trust Fund

Following up on a previous post the Cherry Hill Courier Post reports that New Jersey will borrow funds to "rescue the state Transportation Trust Fund." Rather than raise the state's gasoline tax--the fifth lowest in the nation, which hasn't been raised since 88--the state will borrow $900 million.

Post Author: cs | 02:44 PM | Link | TrackBacks
Comments

And it's all full-serve, too. We (meaning New Jerseyans, although I live in DC now) have a low gas tax since a lot of transportation stuff benefits from the revenue provided by NJ Turnpike tolls paid by out-of-staters. The low gas tax also provides a competitive advantage versus neighbouring states - it's not at all uncommon to see a New York cab go through the Holland Tunnel, fill up with cheap Jersey gas, and then head right back into Manhattan. Even after paying the toll, the cabbie still comes out ahead. As with any early-stage suburban area, NJ has a fully developed road system, and most places in the populated area are extremely accessible via road (think a backwards R, with the top part extending as far out as Morristown, and the two legs as the Turnpike to the Philly suburbs and the Parkway heading down to the shore, AC, and Cape May. The problem is that a lot of the roads were built before superhighways became superhighways, and so expensive projects, like upgrading US-1 between Trenton and New Brunswick, US-206 between Princeton and Bridgewater, and a goodly number of bridges are now coming due for updates, with little money to pay for them.

Posted by: Matthew :) at February 14, 2004 12:39 AM

This bit of news could solve the gas-filling problem. But may aggrivate the drunk driving one.

Posted by: Michael at February 14, 2004 10:50 AM
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