NJ Senate And Assembly Propose Different Methods To Replenish Transportation Trust Fund
By KYW's David Madden
(TRENTON, NJ) Remember the legislative wrangling over the financial future of Atlantic City? A similar showdown could be brewing over how to replenish the depleted Transportation Trust Fund in New Jersey.
The senate and assembly presented competing proposals in separate press releases Friday afternoon.
There are similarities.
Both bills seek to put 20 billion dollars into the Transportation Trust Fund over the next decade. It runs out of money at the end of the month. They both offer to trim other taxes, and eliminate the estate tax entirely.
But the Assembly version is vague on how various fuel taxes would be affected, and offers no specific numbers. The senate version targets three levies that would take the current 14.5 cent a gallon tax to 37.5 cents, still lower than in Pennsylvania or New York. Another thing, the senate's bill is bi-partisan, while the Assembly's is backed by top Democrats. Action is not likely before summer.
Governor Chris Christie, who told reporters he's "tired of playing marriage counselor," is offering no clue on which idea he might support, if any.