Still smarting from that 23-cent gas tax hike? It could go up again.
For many New Jerseyans, the 23-cent-per-gallon tax hike imposed in 2016 is still an open wound.
So this update from state budget experts may smart: Gas tax collections are down and the tax rate may be increased later this summer to ensure it brings in enough cash to pay the bills for road and rail projects around the state.
Until 2016, New Jersey motorists enjoyed the second-lowest gasoline taxes in the country.
But lawmakers desperate to raise money for a nearly empty Transportation Trust fund struck a deal with then-Gov. Chris Christie to hike gas taxes 23 cents per gallon and cut the sales tax, eliminate the estate tax, raise the retirement income exclusion and the Earned Income Tax Credit and offer a tax credit for veterans.
Read more: http://www.nj.com/politics/index.ssf/2018/05/still_smarting_from_the_27-cent_gas_tax_hike_there.html
