New Jersey’s Highway Woes Seen Dealing Blow to Christie Legacy
- Governor championed anti-tax agenda during presidential run
- State’s transportation fund to run out of money next month
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New Jersey’s lawmakers are crafting elaborate proposals to replenish a fund for transportation projects that’s about to go broke. Bond investors are counting on the simplest solution as the most likely: raise the gas tax.
Unless legislators act, the most densely populated U.S. state can’t borrow for new road and rail projects as of July 1. Motor fuels collections that flow into the fund are already committed to the $15 billion in outstanding debt issued by the New Jersey Transportation Trust Fund Authority.