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New Jersey official: road money running out

Local News | Apr 29, 2014

New Jersey official: road money running out

TRENTON, N.J. (AP) — New Jersey’s transportation commissioner says there is enough money in the state’s transportation trust funds to keep fixing roads as planned through June 2015.

But James Simpson told lawmakers on Monday that the fund will be about $1 billion short in the fiscal year that starts after that.

Simpson says he has not spoken with the state treasurer about how the fund might be replenished. But he says the gas tax in place now is not a sustainable way, in part because of the rise of more efficient cars.

State Treasurer Andrew Sidamon-Eristoff had told lawmakers earlier this month that he expects to present a new plan early next year.

Gov. Chris Christie has said repeatedly that he opposes raising the gas tax.