The election is over, so the time to buckle down and focus on solving New Jersey’s transportation funding crisis has arrived.
The problem is abundantly clear: Governor Christie’s five-year transportation capital plan failed, and will run dry a year early, which will leave a huge void if a solution is not in place by July 1, 2015, the beginning of fiscal year 2016.
Earlier this fall, to get a dialog going between advocates, legislators and interest groups on how to resolve the Transportation Trust Fund (TTF) crisis, the Assembly Transportation Committee held three special hearings in Montclair, Piscataway and Camden. A fourth and final hearing will be held next week in Atlantic City during the annual NJ League of Municipalities Convention.
There are a number of items “on the table” aimed at restoring the solvency of the TTF. The most recent addition to the menu of items is bill A3886, proposed for introduction by Assemblyman John Wisniewski. A3886 would increase the gas tax by at least 25 cents, adding $1.25 billion to the $535 million generated annually by the current 14.5 cents per gallon gas tax. This is a step in the right direction and will at least help cover the roughly $1.1 billion in annual debt payments projected out to 2041.
The most pressing need for transportation funding in New Jersey right now is figuring out how to fund the planned $1.6 billion transportation capital program for FY2016, the last year of the current five-year capital program.
What comes after is anyone’s guess. Since its inception in 1984, the transportation capital program has not gone longer than five years without an increase, but in terms of spending power, it’s actually shrinking due to higher labor and materials costs. And on top of that, the current program includes a $1.8 billion shot of funding from the Port Authority — which represents more than 20 percent of total planned spending. That funding won’t be available come FY2017, leaving a gaping funding hole.
We don’t expect New Jersey legislators to move on the gas tax increase or any other funding bill until after the final hearing on November 20. But Governor Christie’s FY2016 Budget Address is expected in late February, less than four months away.
Tick-tock, tick-tock.
We need to find dedicated funding for NJ Transit operations. I would like to see a portion of the gas tax increase to be solely dedicated for bus and rail operations.
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Relax, no rush – driving has been down since 2007 and is not growing – between the motor-happy baby boomers retiring and driving much less, and the smartphone-happy millenials who aren’t too interested in driving, we have time to sort out the best use for our transportation spending. (It might be better spent on transit, biking and walking infrastructure – shhhh…)
Now is a time to raise the NJ motor fuel tax coincident with falling gasoline prices at the pump. Do it now.
Bill Vigrass, Cherry Hill NJ 08003
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