NFIB/NJ opposes an increase in the gas tax.
How Should New Jersey Solve its Infrastructure Problem?
How should New Jersey solve its ailing infrastructure problem?
That’s the question state lawmakers are now trying to solve.
In January, the state legislature voted to give voters the chance to set aside all gas tax revenues for transportation projects.
The vote would put a ballot question before voters later in the year. At present, the state is searching for a way to fortify the ailing Transportation Trust Fund, which is scheduled to run out of money sometime this summer.
“NFIB/NJ opposes an increase in the gas tax, however transportation trust fund is about to go bankrupt and roads and bridges are in disrepair,” says NFIB/New Jersey State Director Laurie Ehlbeck.
Here’s how the ballot question reads:
“Do you approve amending the constitution to dedicate all revenue from the state motor fuels tax and petroleum products gross receipts tax to the Transportation Trust Fund? The dedication includes three cents of the existing motor fuels tax on diesel fuel not already dedicated. The dedication also includes any petroleum products gross receipts tax revenue that is not already dedicated. The amendment would dedicate all revenue from the state motor fuels tax and petroleum products gross receipts tax to the Transportation Trust Fund. The current minimum dedication is $200 million per year. This fiscal year, the revenue from the tax on gross receipts of the sale of petroleum products is estimated to be $215 million. The amendment does not increase the state motor fuels tax or petroleum products gross receipts tax. This change increases the dedication of revenues from current taxes. If the tax is increased in the future, the amendment dedicates the increased revenues that would result from the tax increase.”