Christie Says Plan Will Replenish Transportation Trust Fund
TRENTON (CBS) -- New Jersey Governor Chris Christie has announced a plan to replenish the state's dwindling Transportation Trust Fund and he says he'll do it without raising taxes.
The fund would have gone dry by June without action.
The Governor's plan raises nearly $8 billion over the next five years for statewide road and bridge projects through various sources, including going to the bond market, but for $1.8 billion less than originally planned.
"It does set the state on a path toward leveling off debt and toward a 'pay as you go' program," says Joe Dee, a spokesman for the state Department of Transportation.
Another 1.8 billion in North Jersey projects will be taken on by the Port Authority of New York and New Jersey.
As for other specific projects, they'll be spelled out in Christie's new budget expected in a couple months.
Reported by David Madden, KYW Newsradio
