NJ Faces Possible Gasoline Tax Hike

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NJ Faces Possible Gasoline Tax Hike

11/25/2003
NEWARK -- A New Jersey state panel appointed by Gov. James E. McGreevey is recommending an increase of the state's gasoline tax by 12.5 to 15 cents per gallon to fund as much as $49 billion worth of transit projects over the next decade, reported the Home News Tribune.

McGreevey convened the panel 10 months ago to recommend how to permanently finance the state Transportation Trust Fund, which is running low.

State Transportation Commissioner Jack Lettiere said the recommendations also include putting a constitutional amendment on the ballot next November to specifically dedicate the increased gasoline tax revenue to the trust fund, according to the Tribune.