The New Jersey state Senate budget committee approved a bill which aims to replenish the state’s Transportation Trust Fund by raising the gas tax.
According to the legislation, which was only introduced last week, the gas tax would increase by almost 10 cents in the next five years — about 1.9 cents each year.
The bill also institutes an additional tax for zero emission vehicles registered in the State, which would be collected at the time the vehicle is initially registered or renewed.
Beginning on July 1, 2024, the amount of the fee would be $250 and increase by $10 on July 1 of each year until 2028. After that time, the amount of the fee would be set at $290.
This new hike would be the first major change to the transportation trust fund revenue formula since 2016, when lawmakers approved a deal that reduced the state’s sales tax and eliminated its estate tax in exchange for more than doubling its levies on gasoline and diesel.
Before the 2016 law, New Jersey’s gas tax was the second lowest in the country.
Today, New Jersey’s 42.3-cent-per-gallon tax on gasoline and its 49.3-cent tax on diesel are among the nation’s highest.
The Transportation Trust Fund, or TTF, is used to maintain and renovate the state’s roads, bridges and rail infrastructure.
The bill was approved by the Assembly Transportation Committee as well and is set for a possible floor vote in both chambers as soon as next week.
Electric vehicles cause more prolonged damage to roadways than gas vehicles, due to their heavy weight and specialized tires, and yet this state punishes internal combustion engine owners each time they go to the pumps but gives electric vehicle owners thousands of dollars in incentives to buy these electric vehicles, that yes are 0 emissions but cause more damage to the earth when they mine for the raw materials to make the batteries. ALSO, no one mentions the short life span of the batteries, what they do to the environment once disposed of since they can’t be recycled, cost of replacing, or the fact that they are primarily sourced from China, the biggest threat to the American way of life and the largest polluter in the world. Democrats are so short sighted…..I cant wait to leave this state.
I agree, we should be moving away from cars entirely. Better walkability and safer infrastructure for people rather than cars, combined with mixed use zoning and public transportation, will do a lot more for the environment (and our health) than replacing one wasteful mode of transportation with another.
Even better than taxing us individuals would be for the penalties to fall on oil and gas companies, which get major tax cuts
can you pls msg Avi scnall if can change law that we don’t have to be only state in country were you have to have full service which rises cost and takes longer to get done!! Pls get rid of dumb law which will automatically reduce price!!!!!!!!!
Thieving democrats, how about lowering road construction costs instead, NJ has the highest per mile costs in road construction.