Despite increased revenue and a better bond rating, the New Jersey Turnpike Authority has key financial risk, one ratings agency says.
According a Sept. 14 report by Moody’s Investors Service, political interference and toll-wary drivers could put the Authority — which oversees the Garden State Parkway and New Jersey Turnpike — in a financially precarious situation in the coming years.
The report comes after a year of growth for the Authority, which saw nearly $1.5 billion in revenue between July 2014 and June 2015. During that same period, Moody’s increased its bond rating to “A2,” its highest since the early 2000s.
They are robber barons with Bridges to plunder
Add up all the money in gasoline taxes, bridge and tunnel tolls, and commuter taxes and something is seriously amiss with how we spend our money on state roads, bridges and tunnels. Too much is wasted on graft and voting buying efforts by the union water boys in Trenton, and not enough gets spent on actually improving transportation for commuters and NJ residents