The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
photos courtesy of Leonia Fire Department
the staff of the Ridgewood blog
Leonia NJ, On Thursday night, just after 10:30 PM, fire units from Teaneck, Leonia, and Englewood responded to a significant incident on the Interstate 95 Express lanes.
Continue reading Thursday Night Multi-Response Incident on Interstate 95 Express Lanes
the staff of the Ridgewood blog
Paramus NJ, The NJ Turnpike and Garden State Parkway have seen a decrease in traffic and toll revenue due to the coronavirus pandemic. According to the NJ Turnpike Authority, traffic on the Turnpike was down 30% through June and traffic on the Parkway was down 26%. Revenue for both highways dropped by 27%, but the agency has said that they are $53 million under budget this year so far. The NJ Turnpike Authority recently approved toll hikes and massive highway widening projects for both the NJ Turnpike and GS Parkway that will cause environmental damage and increase climate impacts.
Continue reading Turnpike, Parkway Sees Drop in Traffic But Toll Hikes Still Going Forward
the staff of the Ridgewood blog
Trenton NJ, Elected officials, environmental leaders and ordinary citizens throughout the State harshly criticized today’s NJ Turnpike Authority’s approval of a $16 billion plan to widen the NJ Turnpike and Garden State Parkway and demanded that Governor Murphy reject the plan, which would be disastrous for the health, welfare and well-being of New Jersey residents and our cash starved State. The widening plan conflicts with the State’s Energy Master Plan and the Governor’s Executive Orders regarding climate change and clean energy, increases pollution, and despite its enormous price tag, undermines the state’s pandemic recovery efforts, and produces no benefit to the State, especially compared to alternatives. The approval will be followed immediately by a 1:30 p.m. special meeting of the South Jersey Transportation Authority (SJTA), which will likely approve $210 million for highway expansions on the Atlantic City Expressway.
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.
