Enough Toll and Gas Tax Money to Pay for Roads
Every day we are told we need a billion dollar gasoline tax hike to fix a transportation “crisis”. That’s a big lie. The $1.5 billion we already pay in tolls and gas taxes is more than enough to pay for the best roads and bridges in the country.
Only Wall Street banks and investors getting high tax free income would benefit from a gas tax hike.
For years, Democrats and Republicans on the NJ Transportation Trust Fund Authority recklessly spent far more than they took in. They wasted billions on projects that had nothing to do with roads and bridges. To do this, they borrowed $16 billion without getting voter approval as required by our state Constitution.
Bonds without voter approval in NJ are high-risk “junk” because state government has no legal obligation to repay them. That is why they pay such high, tax-free income.
Our State Constitution required voter approval for borrowing since 1844 for good reason. It was designed to prevent reckless borrowing by state governments that caused a nationwide economic collapse of 1837.
Since the 1960’s, state politicians and clever lawyers created dozens of “authorities” to by-pass this safeguard. That explains much of our high debt, corruption and taxes in NJ today.
Let’s understand and enforce our State Constitution again. Tell your State Senator and Assembly members, “Enough!” Gas tax and toll money should fix our roads and bridges–not bail out Wall Street.
Seth Grossman, the executive director of Liberty & Prosperity 1776 (libertyandprosperity.org), is a former Atlantic City Council member and Atlantic County freeholder, and ran in the 2013 Republican primary for New Jersey governor.