Tag: TTF

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Democratic Senate Candidate Assemblyman Gordon Johnson, Ducks Debate with Republican Candidate Mike Koontz in District 37

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the staff of the Ridgewood blog

Teaneck NJ, on 10/27/2021 Mike Koontz and his two assembly running mates, Edward Durfee and Perley Patrick, participated in a sign wave at the 545 Cedar Lane office of Assemblyman Gordon Johnson, the Democratic Senate Candidate for the 37th District of New Jersey. The purpose of the event was to bring attention to both Gordon Johnson and his running mates, Ellen Park and Shama Haider, who replaced his original choices for Assembly because of questions of ethics and bias commentary. They refuse to debate the Republican Senate and Assembly candidates Koontz, Durfee and Patrick.
Koontz explains “We believe we extended an invitation by accepting The Bergen County League of Woman Voters request to participate in a political forum on or about 8/18/2021 to be scheduled on October 13. Either as a Live or Zoom event. As the date approached I contacted the League to find that Johnson had declined the debate a short time before the planned date. “
Mr. Koontz then contacted the Johnson office to find a surprised staff that such a request had been received. However the staff member indicated the importance in such a forum as a public service. This encounter was relayed to the League with no avail.

Continue reading Democratic Senate Candidate Assemblyman Gordon Johnson, Ducks Debate with Republican Candidate Mike Koontz in District 37

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NO Increase for NJ Gas Tax Rate for Coming Year

gas station bike

the staff of the Ridgewood blog

Ridgewood NJ, State Treasurer Elizabeth Maher Muoio announced today that New Jersey’s current tax rate on gasoline and diesel fuel will remain stable for the coming year at 41.4 cents and 48.4 cents per gallon, respectively.

As required by law, the Department of the Treasury conducted a detailed review of fuel consumption data, and the Treasurer consulted with the Legislative Budget and Finance Officer, in order to make this year’s determination in compliance with the 2016 law (Chapter 57) that requires a steady stream of revenue to support the state’s Transportation Trust Fund (TTF) program.

Continue reading NO Increase for NJ Gas Tax Rate for Coming Year
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Some Help for Bergen County’s Terrible Roads ,Nearly $4.5M Grant for Local Road Work

roadwork

March 26, 2018

the staff of the Ridgewood blog

Ridgewood NJ, Lawmakers representing New Jersey’s 40th legislative district announced nearly $4.5 million to fund 15 transportation projects in each of the towns they represent.

$4.5 million in TTF funding will support 15 road and bridge projects (SenateNJ.com)“Our local municipalities will receive over $4 million from the TTF to improve critical road and bridge projects,” said Sen. Kristin Corrado (R-40). “Funding for safe and reliable transportation will be an investment in our economy.”

Bergen County will receive more than $1.3 million to fund seven projects, including improvements to the West Allendale Avenue Streetscape in downtown Allendale Borough and roads near schools and parks in Franklin Lakes and Ho-Ho-Kus.

Passaic County will receive $2,185,000 for five projects, including Webster Drive in Wayne Township.

Two projects in Morris County will be funded with more than $547,000, including improvements to Hillview Road in Pequannock Township, a commercial area. A $402,000 grant was awarded to Essex County for Cedar Grove Township.

“This is welcome news for our region,” said Rooney (R-Bergen). “Fixing roads in residential neighborhoods makes them safer for commuters and families while protecting the value of homes in the area. Road improvements also enhance safety for children who walk to school and enjoy our parks.”

“Commuters, businesses, and families will all reap the benefits of this funding,” said DePhillips (R-Bergen). “Well paved and maintained streets are vital to our local economy. This investment in our infrastructure will pay dividends for years to come.”

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New Jersey Drivers Pay the Bulk Road Infrastructure Costs though taxes and tolls

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file photo by Boyd Loving

July 26,2017

the staff of the Ridgewood blog

Ridgewood NJ, according to the Tax Foundation Gas taxes are typically used to fund infrastructure maintenance and new projects, but the share of state and local road spending that is covered by tolls, user fees, and taxes varies drastically. It ranges from only 12 percent in Alaska to 76.3 percent in Hawaii.

New Jersey drivers pay the fifth-highest share of the cost to fund roads and bridges, with motorists kicking in 67 percent of the price tag through taxes and tolls, according to the Tax Foundation Study .

New Jersey only ranks behind Hawaii, Delaware, New York and Florida of states where local revenues pay a majority of road costs.

While the study did conclude that , “States should attempt to fund infrastructure through user taxes and fees as much as possible, internalizing the costs associated with using the state’s transportation systems” . Its once again disappointing yet expected that New Jersey continues to lead the nation in all the wrong things .

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Reader Calls Bergen Light Rail a taxpayer ripoff like you’ve never seen

Trolly Car HBLR

What this article omits is that the cost of this boondoggle is $1.3 billion and climbing. So for $130,000,000 a mile, we will get what the proponents project to be 24,000 trips. At $2.25 per trip ( current light rail ticket price) assuming the projected number of rides are taken every single day of the year (a heroic assumption), it will take 65 years to pay this off, not counting interest.

The money for this comes from the newly hiked gas tax which will apparently be diverted from fixing roads and bridges to pleasing a few of Loretta’s constituents.

This is a taxpayer ripoff like you’ve never seen.

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PLANNING FOR HUDSON-BERGEN LIGHT RAIL BACK ON TRACK, DRIVEN BY REVITALIZED TTF

gas station bike

JOHN REITMEYER | APRIL 25, 2017

Funds available to take extension project through environmental-impact study, but money from Trump administration now appears iffy

A renewed state Transportation Trust Fund has reignited the planning process for the proposed light rail in eastern Bergen County, a $1.3 billion project that local officials say will ease traffic congestion and stimulate economic growth.

After a long period of delay, last month officials from New Jersey Transit released a draft of the latest revised plan for the proposed 10-mile extension of the Hudson-Bergen Line, which now ends in North Bergen. NJ Transit is in the midst of a 60-day public comment period on the latest plans, which would take the line up to Englewood, where two public hearings were held yesterday.

 

https://www.njspotlight.com/stories/17/04/24/planning-for-hudson-bergen-light-rail-back-on-track-driven-by-revitalized-ttf/?utm_campaign=new-jersey-politics&utm_content=2017-26-04-9472992&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics

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NJ LAWMAKERS WRANGLE OVER WHO DECIDES HOW TTF BILLIONS WILL BE SPENT

road work Ridgewood police

photo courtesy of the Ridgewood Police

JOHN REITMEYER | APRIL 13, 2017

Senate President rejects Republican senator’s claim that new commission could politicize how projects are selected

Senate President Stephen Sweeney speaks during a news conference in Linden yesterday to announce state funding for a long-planned road project.

After last year’s renewal of the Transportation Trust Fund, there’s now $2 billion in state dollars to spend on infrastructure improvements every year in New Jersey. But that has also raised the question of exactly who decides which projects deserve top priority — the governor and his administration’s transportation officials or a special four-person commission that’s been championed by lawmakers?

A measure that’s expected to make it out of the Legislature in the coming weeks will ensure the new capital-project approval commission has the final say, though not until a year from now.

The passage of what’s being called the “TTF cleanup bill” will also make sure that a planned $2 billion in spending on infrastructure improvements during the state fiscal year that begins in early July can go forward even though the new commission has yet to be assembled.

And despite complaints from some lawmakers that the new commission could politicize New Jersey’s transportation-funding process and even be unconstitutional, Senate President Stephen Sweeney (D-Gloucester) said he remains committed to establishing the new format. He also disputed claims that the new selection method could be unconstitutional.

https://www.njspotlight.com/stories/17/04/12/lawmakers-wrangle-over-who-gets-to-decide-how-ttf-billions-are-spent/

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SHOCK : Some N.J. Republicans think revenue from gas tax increase should only pay for roads

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file photo by Boyd Loving

By MATT FRIEDMAN

01/19/17 05:39 AM EST

Some Republicans who opposed the deal to replenish the Transportation Trust Fund have a rallying cry after losing that fight: The new money should only be spent on roads.

Lt. Gov. Kim Guadagno, kicking off her campaign for governor on Tuesday, implied as much in her speech. She criticized the new $16 billion deal, which includes $12 billion in borrowing over eight years and a 23-cent per gallon increase in the gas tax, saying the state “cannot afford to borrow billions of dollars to build a new rail line when our roads and our bridges are crumbling.”

https://www.politico.com/states/new-jersey/story/2017/01/some-nj-republicans-think-gas-tax-increase-should-only-pay-for-roads-108832?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics

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NJ Taxpayers Get Played for Fools Again

Steve-Sweeney-Atlantic-City-finances

NJ gas tax could be used to prop up public pension system

By Michael Symons December 8, 2016 6:39 PM

In a roundabout way, revenues from the increased gas tax might help shore up New Jersey’s beleaguered pension funds.

A proposed bill, S2842/A4388, would enable the Transportation Trust Fund to borrow directly from the pension funds, rather than sell bonds to investors. There would be no cap to how much could be borrowed. The pension funds are typically limited to buying 10 percent of any single bond sale.

Senate President Stephen Sweeney, D-Gloucester, said the pension funds would benefit from earning a higher interest rate than they do buying U.S. Treasury bonds. And the TTF would avoid paying the fees normally associated with a bond sale, Sweeney said.

“Why are we giving fees to Wall Street? Why are we letting other people make interest off of us when we have a pension fund that is woefully underfunded?” Sweeney said.

Sweeney estimated the impact by talking about a hypothetical $1.2 billion in borrowing by the TTF, which he said would cost the TTF $60 million in interest, at an interest rate of 5 percent, and $6 million in underwriting fees to Wall Street.

“The money is there. This is a safe bet. This is not a risk. We don’t want to risk people’s pension funds,” Sweeney said. “Why pay someone else 5 percent when we could pay ourselves?”

The bill wouldn’t require the pension funds to invest in TTF and New Jersey Infrastructure Bank bonds, but it would lift the limits on what the State Investment Council could choose to do. Other types of state debt, such as for school construction, would not be included.

Read More: NJ gas tax could be used to prop up public pension system | https://nj1015.com/nj-gas-tax-could-could-be-used-to-prop-up-public-pension-system/?trackback=tsmclip

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Will N.J. voter anger over gas tax hike sink transportation ballot question?

Vote NO

By Samantha Marcus | NJ Advance Media for NJ.com
on November 02, 2016 at 11:30 AM, updated November 02, 2016 at 4:23 PM

TRENTON — Now that New Jersey’s new 23-cent gas tax increase is on the books, a ballot question asking voters to dedicate the billions of dollars in new revenue to transportation projects is suddenly getting lots of attention.

The once-virtually uncontested question that passed the Legislature with just one “no” vote has become a flashpoint in the fight over the new tax, which hit gas stations Tuesday.

Now supporters of the ballot question are worried voters angry over the higher gas tax will reject the measure.

https://www.nj.com/politics/index.ssf/2016/11/ballot_question_is_next_battleground_in_gas_tax_fi.html?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics#incart_river_home

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Say Good-bye to Cheap Gas , Say Good-bye to one of the last Reasons to Live in New Jersey

Sweeney & Prieto

November 1,2016

the staff of the Ridgewood blog

Ridgewood NJ, The nation’s second-lowest gas tax ended officially at 12:01 a.m. on Tuesday, Nov. 1, and was replaced by one of the highest per-gallon rates in the nation , The .23 cent increase gives New Jersey now 37.5 cents-per-gallon.

While the party line from Trenton is that money will be used to refill the depleted TTF or Transportation Trust Fund providing the money New Jersey bridges and roads need for a massive investment .

A few things to keep in mind when you pay up at the pump;

The average cost of road repair in the US is $39,000 per mile but in NJ it’s $2 million a mile; New Jersey spends eight times the national average on its state-controlled highways.

The Reason Foundation says New Jersey spends just over $2 million per state-controlled mile on construction, maintenance and administration, triple the roughly $675,000 spent by the next-highest state, Massachusetts, and more than eight times the national average of $39,000. I call it “out of control” spending.

The state DOT disputes that number. But with reports the reconstruction of Route 35 were more than $27 million per mile, it’s clear our costs are out of control.

The state of New Jersey funds highway, bridge, and rail projects through its Transportation Trust Fund, which relies on borrowing and gas tax revenue to contribute $1.225 billion to the state’s overall $1.6 billion construction budget this year. Can anyone say “Ponzi Scheme” ?

Why the deficit and lack of funds? Is it because the corruption in Trenton has already used these allocated tax monies to offset other programs, loans, or deficits. Bad deals are made by politicians looking to get elected, guaranteeing political donations from unions, keeping project labor agreements and prevailing wages artificially inflating the costs of road work.

By some accounts, New Jersey spends the 3rd most of any state on transportation funding.

So as we say good bye to cheap gas perhaps you are also saying good bye to one of the last reasons left  for living in New Jersey .Let’s face it New Jersey is last in almost everything and being the worst place to live is also even getting more expensive.
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Senator Mike Doherty Joins Senator Kip Bateman Working to Repeal the Gas Tax Increase

gas tax nj
October 21,2016

the staff of the Ridgewood blog

Ridgewood NJ, On Tuesday, November 1st, just two weeks from today, every fill-up at the gas pump will cost drivers and commuters 23 cents/gallon more in gas taxes.

A family with two cars will pay about $300 more per year. Commuters with long drives may pay hundreds more.

I announced yesterday that I’m joining with Senator Kip Bateman to sponsor a bill to repeal this unaffordable gas tax increase.

We’re introducing the legislation, but we can’t repeal the gas tax by ourselves. We’ll need your help. Will you join the repeal effort too?

If you want to help stop this tax increase, please take a few seconds to sign our repeal petition:

https://www.senatenj.com/gastaxrepeal

Every person who signs and shares helps to build the momentum we’ll need for the repeal effort to succeed.

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Bateman Launches Effort to Repeal the Gas Tax Increase

Senator Senator Kip Bateman

Legislation Would Roll Back Recently Enacted 23 Cent/Gallon Gas Tax Hike

October 15,2016

the staff of the Ridgewood

Ridgewood NJ, Senator Senator Kip Bateman (R-Somerset, Middlesex, Mercer, Hunterdon) will introduce legislation to repeal the 23 cent per gallon gas tax increase that was signed into law by Governor Chris Christie.

Sen. Kip Bateman announced legislation and a new online petition to repeal the 23 cent/gallon gas tax increase that was recently enacted. (SenateNJ.com)

Bateman, who opposed and voted against the gas tax increase, also announced the launch of a new online petition to give drivers and commuters impacted by the gas tax the opportunity to have their voices heard.

“While the Governor and the Democrat-led Legislature didn’t listen to the tens of thousands of New Jerseyans who spoke out against raising the gas tax, I listened and understand their concerns,” said Bateman. “The overtaxed people of New Jersey have demanded that we find another way to fund our transportation needs without taking more out of their pockets. This repeal effort is recognition that there are fiscally responsible alternatives to the gas tax.”

The legislation to repeal the gas tax increase will be introduced when the Senate next meets.

“I’ve heard from so many commuters who struggle financially every time the price of gas rises, and they’re pleading for help to save them from the gas tax increase,” added Bateman. “Lawmakers have a responsibility to not harm already struggling residents through our state’s tax policy, and that’s what this effort to repeal the gas tax increase is all about. I encourage everyone to sign and share the online petition to help get the repeal movement rolling.”

Bateman’s new petition to support the repeal of the gas tax increase can be signed at senatenj.com/gastaxrepeal.

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Doherty Votes ‘NO’ on Gas Tax

Senator Mike Doherty

Calls for Passage of His Legislation to Study & Control Excessive Road Costs
October 8,2016
the staff of the Ridgewood blog

Ridgewood NJ, Senator Mike Doherty (R-23) voted ‘NO’ on increasing the state gas tax by 23 cents per gallon, saying the state hasn’t done enough to control excessive costs related to road construction:

Sen. Mike Doherty at a roadside rally in Bridgewater on June 22, 2016 opposing a gas tax increase with Assemblyman John DiMaio, Assemblyman Erik Peterson, Americans for Prosperity-New Jersey, and concerned residents. (SenateNJ.com)

“My office has fielded thousands of calls from constituents who oppose this gas tax increase, and my vote ‘NO’ today was for them.

“Many callers have said that the state doesn’t use the gas taxes it already collects wisely, and it doesn’t deserve a penny more, let alone 23 cents per gallon more. I agree completely.

“If they’re going to force this tax increase upon unwilling drivers, the Governor, Senate President and Assembly Speaker should agree to advance and enact my legislation to get excessive transportation costs under control. That this cost-control bill continues to be blocked is unconscionable.”

Doherty is the sponsor of S-1888, which would create the “State Transportation Cost Analysis Task Force,” to examine state transportation spending and offer recommendations for reducing New Jersey’s highest-in-the-nation road construction costs.

More than 25,000 people signed an online petition run by Doherty and Senator Jennifer Beck (R-Monmouth) in opposition to the gas tax increase.

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Opponents call N.J. 23-cent gas tax hike deal ‘insane’ and ‘appalling’

gas tax nj

By Samantha Marcus | NJ Advance Media for NJ.com
on October 04, 2016 at 5:16 PM, updated October 04, 2016 at 7:52 PM

TRENTON — With the state Legislature poised to approve a 23-cent-a-gallon increase in the gas tax Wednesday — along with a decrease in the sales tax and the elimination of the estate tax — budget analysts and consumer advocates complained bitterly on Tuesday that the average New Jerseyan would pay a lot more at the pump while getting little in the way of tax breaks.

Various efforts by the governor and legislative leaders to replenish the Transportation Trust Fund have repeatedly brought these groups together to warn that the tax cuts will benefit a relatively few wealthy residents while undermining such Democratic priorities as environmental oversight, funds for education and aid for the state’s poorer residents.

The latest tax plan, the result of negotiations between Gov. Chris Christie, a Republican, and Democratic leaders in the Senate and Assembly, eliminates the estate tax, raises the Earned Income Tax Credit for the working poor, eliminates taxes on much pension and retirement income, slightly reduces the sales tax and creates a tax break for veterans.

The 23-cent-per-gallon increase on gasoline sold in the state will finance an eight-year, $16 billion transportation program that will draw another $16 billion in federal matching dollars.

https://www.nj.com/politics/index.ssf/2016/10/opponents_call_23-cent_gas_tax_deal_insane_appalli.html?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics#incart_river_home