New Jersey Democratic legislative leaders have proposed a 23 cent per gallon increase in the state's gasoline tax to fund the almost bankrupt Transportation Trust fund. However, a spokesman for Governor Chris Christie has said the governor "won't agree to higher gas prices unless they’re accompanied by 'significant, broad-based tax relief'."
The current proposal does not include a provision to drop the sales tax down to 6% or increase the jet-fuel tax.
The proposal does include broad tax breaks and an income-tax deduction of up to $500 for motorists. The proposal phases out the estate tax and raise the current exemption of $675,000 until its elimination in 2020.
(more on NJ's proposal to fund the Transportation Trust Fund...)
