N.J. Assembly OKs Governor's Transportation Plan
he New Jersey Assembly has approved Gov. Jon Corzine's proposal to prevent the state’s Transportation Trust Fund for going bankrupt later this year, news services reported.
The plan, which still must be approved by the state Senate, would stop diverting a portion of the gasoline tax to the general fund.
It would raise $1.6 billion annually for the next five years to pay for road and mass-transit projects by issuing more than $6 billion in bonds, while avoiding increasing the state’s gasoline tax, the Philadelphia Inquirer reported.