Assemblyman John S. Wisniewski

WISNIEWSKI RESOLUTION TO DEDICATE ALL GAS TAX REVENUE TO TRANSPORTATION TRUST FUND ADVANCES

(TRENTON) - A concurrent resolution Assembly Deputy Speaker John S. Wisniewski sponsored to constitutionally dedicate all of New Jersey's 10.5 cent per gallon motor fuels tax to the Transportation Trust Fund (TTF) was unanimously approved by the Assembly Transportation and Public Works Committee today.

FOR RELEASE:
March 9, 2006

CONTACT:
Assemblyman Wisniewski
(732) 316-1885
James Sverapa IV
(690) 292-7065

WISNIEWSKI RESOLUTION TO DEDICATE ALL GAS TAX REVENUE TO TRANSPORTATION TRUST FUND ADVANCES

(TRENTON) - A concurrent resolution Assembly Deputy Speaker John S. Wisniewski sponsored to constitutionally dedicate all of New Jersey's 10.5 cent per gallon motor fuels tax to the Transportation Trust Fund (TTF) was unanimously approved by the Assembly Transportation and Public Works Committee today.

If approved by both houses, the resolution would authorize a public referendum on the November ballot that would allow the public to decide whether or not to dedicate all motor fuels tax revenue to the TTF.

"There's no question that the original intent of the gas tax was to fund transportation initiatives in the state," said Wisniewski (D-Middlesex) chair of the Assembly Transportation and Public Works Committee. "When the Transportation Trust Fund was first established, it was financed entirely through the gas tax. In the intervening years, however, we moved away from this ideal. By constitutionally dedicating the entire 10.5-cent-a-gallon gas tax to the TTF, we ensure all of the revenue raised is being put to its intended use - funding transportation projects in New Jersey."

Current law only requires that 9.0 cents a gallon of the current 10.5 cents a gallon motor fuel tax be dedicated to the TTF.

Under the measure (ACR-182), the entire 10.5 cent motor fuels tax would be constitutionally dedicated to the TTF. This 1.5 cent per gallon increase in dedicated funding is estimated to generate approximately $78 million in new annual revenue for the fund.

"I have been advocating for this reform for years," said Wisniewski. "Constitutionally dedicating the gas tax to the TTF makes it next to impossible to raid the fund to plug holes in the budget or to fund non-capital improvement projects and non-transportation projects. It is a huge step toward solving the TTF crisis and returning the fund to solvency."

An identical measure passed the Senate Budget and Appropriations Committee on Monday, 15 to 0.

The Wisniewski measure now heads to the Assembly Appropriations Committee for further review.

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