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transportation trust fund

transportation trust fund

Potholes
Spencer Platt, Getty Images
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Transportation Trust Fund closer to depletion

Despite all the talk about hammering out a deal to find a dedicated funding source for the New Jersey Transportation Trust Fund, lawmakers and Gov. Chris Christie have not been able to reach an agreement yet. If no deal is reached by July 1, the TTF will officially go bankrupt and most road and bridge projects will be halted.

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More bridges close as maintenance money runs out in NJ

With New Jersey's Transportation Trust Fund scheduled to run out of cash this summer, the state is being dotted with shuttered bridges that will remain closed indefinitely.

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Governor Chris Christie gives the State of the State Address in the Assembly Chambers at the Statehouse in 2013
Governor Chris Christie gives the State of the State Address in the Assembly Chambers at the Statehouse in 2013 (Governor's Office/Tim Larsen)
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Christie, Democrats at odds over tax cuts and hikes

In his State of the State Address, Gov. Chris Christie called on the Democrat-controlled NJ Legislature to lower taxes while also pledging to veto any income tax increase he gets from lawmakers. Democratic leaders fired back and said the governor has to consider every revenue-raising option to help turn New Jersey's economy around.

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Gas tax
Joe Raedle, Getty Images
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Poll: New Jersey residents say no to gas tax hike

Gas prices have dipped below $2 a gallon, but that doesn't mean New Jersey residents are ready for a gas tax increase, according to a poll released on Jan. 19 by Fairleigh Dickinson University's PublicMind.

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Sweeney calls for transportation ‘master plan’

New Jersey's Senate president is calling for a "master plan" to address aging bridges, roads and tunnels in the state.

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(ThinkStock Images, ThinkStock)
(ThinkStock Images, ThinkStock)
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NJ residents could face a double gas tax hike

New Jerseyans could be faced with what amounts to a double tax if both the Garden State and the federal government decide to implement gas tax increases to help fund projects to repair roads and bridges.

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Pile of Money
Ingram Publishing, Thinkstock
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Sweeney: Funding for TTF must be dedicated

Closed doors talks involving Gov. Chris Christie, Senate President Steve Sweeney (D-West Deptford) and Assembly Speaker Vinnie Prieto (D-Secaucus) are continuing as the trio tries to strike a deal on a plan to replenish the nearly bankrupt Transportation Trust Fund (TTF). All three agree that revenue raised through a gas tax hike or any other means must be dedicated exclusively for transportation projects.

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Assembly Speaker Vinnie Prieto and Sen. Pres. Steve Sweeney (Kevin McArdle, Townsquare Media NJ)
Assembly Speaker Vinnie Prieto and Sen. Pres. Steve Sweeney (Kevin McArdle, Townsquare Media NJ)
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2014 ending with gas tax talk in Trenton

Without a funding solution the state's Transportation Trust Fund will be bankrupt by this time next year. The most talked about idea for replenishing the fund is increasing the gas tax. Assembly Speaker Vinnie Prieto (D-Secaucus) and State Sen. President Steve Sweeney (D-West Deptford) sat down in their respective State House offices for separate interviews with Townsquare Media and both talked at length about the possibility of a gas tax hike.

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bad roads
Spencer Platt, Getty Images
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Could a gas tax hike hurt Christie if he seeks presidency?

Recent polls show a clear majority of New Jersey residents are not in favor of raising the gasoline tax to provide a stable funding source for the Transportation Trust Fund, which pays for all state road and bridge projects. Nevertheless, state officials, including Gov. Chris Christie, could soon announce a gas tax hike to ensure the TTF doesn't go bankrupt.

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Gov. Chris Christie discusses the Transportation Trust Fund during Ask The Governor on Dec. 15. (Kira Buxton, Townsquare Media NJ)
Gov. Chris Christie discusses the Transportation Trust Fund during Ask The Governor on Dec. 15. (Kira Buxton, Townsquare Media NJ)
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Christie expects decision on gas tax this year

The end is near for New Jersey's depleted Transportation Trust Fund. The TTF, which pays for all bridge and road repair work in the Garden state, will run out of money June 30 of next year, unless a dedicated source is found.

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