New Gas Tax Proposal in New Jersey

New Jersey Senators are set to debate a new Democratic proposal to raise the gas tax, pay for road and bridge work and cut the estate tax. The Senate Budget Committee is scheduled to debate Friday the proposal unveiled last week by Senate President Steve Sweeney and Assembly Speaker Vincent Prieto. It’s the latest effort to renew the transportation trust fund, which expired on July 1 without an agreement between the Democrat-led Legislature and Republican Gov. Chris Christie. Sweeney and Prieto say they’re on the same page after the Assembly passed a different measure to raise the gas tax by 23 cents and cut the sales tax to 6 percent. Christie backed that deal and says he would veto the new legislation. Lawmakers are aiming for a veto-proof majority.