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Transportation Funding Looms Large

Local News, News | Jul 07, 2008

Transportation Funding Looms Large

Now that New Jersey’s wrapped up its state budget, state lawmakers are taking the summer off.
But for Governor Corzine, it’s time to move on to other vital matters.
In the coming weeks, Corzine plans to unveil a revised proposal to fund transportation projects.
He won’t comment on what that might include, but it’s expected to involve another bid to increase highway tolls to pay for highway, bridge and mass transit work.
The state transportation fund is to become consumed by debt in 2011.
And the state faces an Oct. 1 federal deadline to find its share of money for a new Hudson River rail tunnel.
The federal government has expressed a willingness to contribute $3 billion to the $7.5 billion project, with the state and the Port Authority paying the rest.
(Copyright 2008 by The Associated Press.  All Rights Reserved.)