Transport plan to hike New Jersey gas tax to get vote

Michael Catalini

 

TRENTON, N.J. (AP) — New Jersey lawmakers are set to vote on a sweeping plan to raise the gasoline tax by 23 cents per gallon, slash other taxes and fund transportation over the next 10 years.

The Democrat-led Assembly and Senate on Monday plan key votes on the legislation. The state's $1.6 billion transportation trust fund runs out of authority for new borrowing on Friday.

The legislation would pay for a $2 billion-per-year fund over the next 10 years, financed in part by a hike in the gas tax as well as a jet fuel tax increase.

The measure includes a phase-out of the estate tax, a cut in retirement income taxes and an increase in a tax credit for poor filers.

Republican Gov. Chris Christie has said he opposes the legislation.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs