NJ Gas Tax Increase May Be Inevitable

gas pumpNew Jersey drivers could face a gas tax increase to help pay for the upkeep of roads and bridges despite Gov.-elect Chris Christie’s pledge not to raise taxes in the year ahead. Democratic Sen. Ray Lesniak told a New Jersey Business and Industry Association forum on Tuesday that a gradual increase in the tax may be inevitable to prop up the state’s nearly depleted Transportation Trust Fund. New Jersey’s 14.5-cent per gallon tax is among the nation’s lowest. Lawmakers from both parties say residents also should brace for the disappearance of property tax rebates due to the budget deficit.

They also say business owners can anticipate an unemployment tax increase that could reach 100 percent or more to bolster the depleted Unemployment Insurance fund. AP

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