Friday, September 30, 2016

A surprise agreement on transportation funding for NJ

After months of political maneuvering that resulted in the shutdown of almost all public road and bridge construction projects and lost pay for workers, Republican Gov. Chris Christie and Democrat leaders of the Senate and Assembly this afternoon made the surprise announcement that they have agreed on a plan to replenish the Transportation Trust Fund.

In exchange for a 23-cent-a-gallon increase in the gas tax (from 14.5 cents to 37.5 cents), Christie, Senate President Stephen Sweeney and Assembly Speaker Vincent Prieto said they also will phase out the estate tax and decrease the sales tax by 3/8 of a percentage point -- from 7% to 6.875% in 2017 and to 6.625% in 2018.

The deal also would increase a tax credit for the working poor, among other cuts.

The Legislature is expected to meet in a special session next week to adopt the agreement.

David Cruz of NJTV NEWS has the video story and Maddie Hanna of covers the print side: Deal raises NJ gas tax by 23 cents 

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