Governor Chris Christie announced his Administration’s plan for replenishing the New Jersey Transportation Trust Fund program, which is expected to run out of money this summer. Under Governor Christie’s proposal, the Transportation Trust Fund will be renewed for a five year period with spending levels of $1.6 billion for each of the five years. Under the Governor’s proposal, the pay-as-you-go component of the Trust Fund program will be substantially increased over the five year lifetime of the program. Local Aid will be retained at approximately $200 million per year.
The program will be funded by increases in revenues from the New Jersey Turnpike Authority and the Port Authority of New York & New Jersey (for projects located within the port district boundary in New Jersey). Additional sources of revenue will come from bonding as well as the state general fund. There will be no increase in the New Jersey gasoline tax.
In his prepared remarks Governor Christie emphasized the importance of repairing New Jersey’s infrastructure, as well as the substantial number of jobs that are dependent on the transportation economy in New Jersey. As part of the press conference, the Governor pointed to photographs of the undersides of New Jersey bridges that are in desperate need of repair.
Several recommendations put forth by the Alliance for Action to the Christie Administration have been incorporated into the Governor’s proposal.
New Jersey Alliance for Action President Philip K. Beachem participated in a special, private briefing on the Governor’s Plan with senior officers of the Christie Administration including State Treasurer Andrew Sidamon-Eristoff, Department of Transportation Commissioner Jim Simpson, New Jersey Transit Executive Director James Weinstein, New Jersey Turnpike Authority Executive Director Veronica Hakim and the Governor’s Chief of Staff Rich Bagger.
