New Jersey May Borrow Billions For Roads

With the state's Transportation Trust Fund emptying out on July 1, the governor contemplates securing $6 billion in loans.

1 minute read

February 21, 2006, 6:00 AM PST

By David Gest


"Gov. Jon Corzine is considering borrowing billions of dollars and refinancing existing debt to grab $6 billion for road and rail projects without raising the gas tax, a state lawmaker briefed on the plan said yesterday.

With interest and financing costs, the plan would end up costing taxpayers $11 billion as the loans are repaid, said Assemblyman John Wisniewski (D-Middlesex), chairman of the Assembly Transportation Committee."

"The Transportation Trust Fund, which has financed about $15.6 billion in transportation programs since it was formed in 1985, will run out of money on July 1. Heavy borrowing has left the fund facing loan payments of more than $10.7 billion, which will consume the entire $805 million in tax revenues and fees earmarked to it each year."

Saturday, February 11, 2006 in New Jersey Star-Ledger

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

July 2, 2025 - Mother Jones

Close-up of park ranger in green jacket and khaki hat looking out at Bryce Canyon National Park red rock formations.

National Parks Layoffs Will Cause Communities to Lose Billions

Thousands of essential park workers were laid off this week, just before the busy spring break season.

February 18, 2025 - National Parks Traveler

Paved walking path next to canal in The Woodlands, Texas with office buildings in background.

Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50

A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.

February 19, 2025 - Greg Flisram

Screenshot of shade map of Buffalo, New York with legend.

Test News Post 1

This is a summary

0 seconds ago - 2TheAdvocate.com

Red 1972 Ford Pinto with black racing stripes on display with man sitting in driver's seat.

Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto

The Tesla Cybertruck was recalled seven times last year.

18 minutes ago - Mother Jones

test alt text

Test News Headline 46

Test for the image on the front page.

March 5 - Cleantech blog