In early July, Christie halted all but the most essential projects paid for with the state's Transportation Trust Fund, including $2.7 billion of NJ Transit projects.
"I've listened carefully to the grave concerns many overburdened taxpayers have expressed about the severe financial impact another tax increase would have on them, and that's why I voted "no" today", he said in a statement. Paul Sarlo and Republican Sen. "Our state is ranked at the bottom when it comes to investment in our roads, our bridges, our utilities". At present, however, our best option would be to borrow funds that would allow this critical work to continue through the next eighteen months and for the legislature to work with a new governor on a more responsible proposal.
Once passed by the Assembly and signed by the governor, the legislation will bring to an end a summer-long construction freeze and avert a prolonged transportation funding crisis.
If the increase does pass, it would take effect as soon as Christie signs it, while the other tax cuts will be phased in.
In exchange for the higher gas tax, the bills reduce the sales tax rate in phases and eliminate the estate tax, which now applies to estates valued over $675,000.
Christie's announcement on the deal came at a quickly arranged news conference in Trenton on September 30, a day after a New Jersey Transit train crash in Hoboken that killed a woman on the terminal platform and injured more than 100 passengers.
Paisley Park museum adds more October tour dates
Paisley Park will now open on October 13, 15 and 21-23 in addition to previously announced tours on October 14. Artefacts on display include Prince's guitars, Purple Rain motorcycle and his ashes in a decorative urn.
Progressive opponents of the tax deal say it's the wrong kind of tax relief.
Senate President Steve Sweeney recognizes this unfairness and has spoken out against the decision. "I'm not against any gas-tax increase".
"We live to fight another day", state Sen.
The Earned Income Tax Credit, however, assists about a half million New Jerseyans, three quarters of whom earn less than $20,000 a year.
What is this "tax fairness" lawmakers keep talking about?
To provide new revenue, lawmakers are proposing increases to the state's petroleum products taxes.