Taxes don’t cover N.J.’s transit debt
New Jersey has become so hooked on borrowing to pay for transportation projects that this year, for the first time, money from gas, sales and other taxes earmarked for transportation spending didn’t cover debt payments.
The state is not alone in struggling to find money to improve its roads and bridges, among the nation’s worst.
But federal data show New Jersey stands out as one of the nation’s biggest transportation borrowers, second in total debt only to Texas. (Duffelmeyer, Gannett)
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This is why we do not raise gasoline taxes so we can continue to go deeper into debt.