Photo by Boyd Loving
Bill seeks to fund most of NJ transportation program with $1.25B in loans
Nearly 80 percent of the state’s transportation program will be paid for with borrowed money next year — with nothing coming from cash revenues on hand — under proposed legislation that will help the Christie administration plug a revenue gap in the state budget.
Senate Bill 2020, introduced by Republicans on Thursday, would give the state’s Transportation Trust Fund Authority the go-ahead to borrow $1.25 billion to put towards the $1.6 billion the state will spend on its transportation program in 2013. (Rouse, The Record)