Governor Christie now says the Transportation Trust Fund is OK! He did this on the 101.5 FM Ask the Governor show. What all of the sudden has changed?
The uproar about possible raising of the Gas Tax to keep the Transportation Trust Fund solvent is over or is it? Chris Christie in answer to a question said that the issuing of unused bonds would keep the fund solvent through the end of the next fiscal year which is June 30, 2016. This is in the proposed budget, but not mentioned in his Budget Address of February 24th.
Yet the Governor did not deem to let us mortals in on the fact that the fund would not run out of money until after his Budget Address. Not only that but, the method of keeping the fund full of cash is questionable. In the past Christie has pooh poohed the idea of one shot fixes now seems to like them. Well by using these unused bonds we will be paying more and the really needed funding base problem has not been addressed.
On that radio show the Governor said, “(The Transportation Trust Fund problem was) not something to rush on or rush through.”
The State Senate President, Steve Sweeny, happened to be listening to the program and when asked said, “I was pretty surprised to hear we went from it was urgent to it’s not now. I have no idea what he was talking about. We’re all talking about the problem and on the radio show he said, ‘What problem?’ I just didn’t realize I live in a different state than he does.” What has happened to the cooperation between the Governor and Sweeny? Does not the governor realize that he still has to work with this person or has he so set his sights on becoming President that he is losing his perspective on New Jersey’s problems?
On March 9th the Transportation Department spokesman Stephen Schapiro said Commissioner Jamie Fox was pleased the Treasury Department identified funding for the next fiscal year, but that renewing the fund with a “dedicated revenue source” remains a priority. The treasurer has said there is about $600 million in bonding authority for transportation. Schapiro says Fox won’t speculate on what will get done but projects under construction will continue.
So while money will now magically be available to keep the fund from going broke, the permanent fix is still in discussion. With no resolution in sight this very real problem will not just go away as the Governor seems to want it to.
I still think that what is needed is a truly dedicated fund as I stated in my blog, Are Dedicated Funds really dedicated. The answer will surprise you! and both political parties have agreed with what I said in that blog. Yet nothing has been written into law. What a surprise!
No matter what happens now, we the people of New Jersey are going to have to pay for the fixing of our infrastructure. The questions are how much will it cost us and how are we going to be taxed to pay for it?
That is my opinion- Jumpin Jersey Mike
