New Jersey Governor Phil Murphy has signed a bill renewing the state's Transportation Trust Fund for another five years. The legislation aims to invest billions in modernizing and maintaining New Jersey's transportation infrastructure, including additional funding for NJ Transit.
The new law, which was passed by both legislative chambers, includes an annual 2-cent rise in the gas tax and a new registration fee for zero-emission vehicles. These measures are expected to help fund state road projects and NJ Transit's capital needs.
Assemblyman Clinton Calabrese, a sponsor of the bill and chairman of the transportation committee, stressed the importance of passing the bill. He warned that without such renewal, ongoing projects could languish and costs could skyrocket, similar to the hardships endured during previous shutdowns.
The legislation faced some opposition, including from three Democratic senators and five Democratic Assembly members. Some critics, including environmental activists and car sellers, took issue with the new $250 registration fee for purchasers of zero-emission vehicles. This fee, which is in addition to the regular registration fee for all other types of vehicles, would amount to an additional $1,200 at the time of sale.
Despite the opposition, Governor Murphy emphasized the critical role of the state's transportation system in shipping goods and getting residents to their destinations. He also highlighted the potential for job creation and support for local and county projects, which would alleviate the burden on taxpayers.
The bill's passage is expected to support more than 20,000 jobs and ensure the continuation of infrastructure projects that drive New Jersey's economy and enhance the lives of its residents.