Gas Tax Increase Complicated When Governor Eyes Presidency

New Jersey needs more funding for transportation. Its a common refrain. New Jersey has the nation’s 2nd lowest gas tax at 10.5 cents. 

New Jersey has a Transportation Trust Fund, but the funds  go to pay transportation bond debt. Sounding familiar?

To fill transportation funding gaps, NJ raised its toll prices. It’s not enough.

The head of the Assembly’s Transportation Committee wants to increase the wholesale gas price. The cost to people in NJ will be about 80cents per day, but it will raise $1.25 Billion per year for transportation funding.

A couple weeks ago there was an election, and a lone Republican Governor lost his re-election bid in Pennsylvania’s. He had signed a nearly 30 cent increase in the gas tax. That’s on Chris Christie’s mind as NJ grapples with funding transportation. [NorthJersey.Com]