No repair in sight for N.J. transportation fund; talks collapse in hunt for revenue
MARCH 25, 2015, 3:51 PM LAST UPDATED: WEDNESDAY, MARCH 25, 2015, 11:07 PM
BY CHRISTOPHER MAAG AND MELISSA HAYES
STAFF WRITERS |
THE RECORD
Negotiations to fix New Jersey’s depleted transportation funding system have broken down, the state transportation commissioner said Wednesday. That means any permanent fix — including a possible gas tax increase — probably will not happen this year, elected officials and transportation experts said.
“The likelihood of it being resolved for the moment is not ideal,” said Commissioner Jamie Fox in reference to the upcoming November election when all 80 seats of the state Assembly are on the ballot. The primary filing deadline for that race is Monday. “It’s election time, which makes it a much more difficult thing |to do.”
Since the beginning of the year, Fox and leaders of both political parties have said the state’s transportation system faces a serious budget shortfall, and they pushed to fix it immediately. The fund that pays for major transportation projects takes in $1.2 billion annually, mostly from motor fuels taxes and turnpike tolls. Nearly all the money is dedicated to paying off more than $18 billion in debt, however, with little left for big maintenance projects and new construction.
https://www.northjersey.com/news/n-j-transportation-funding-talks-over-for-now-1.1295459