Governor Corzine Toll Plan

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
693
#1
http://courierpostonline.com/apps/pbcs.dll/article?AID=/20080109/NEWS01/801090377

Corzine pins debt bailout on substantial toll hikes



KEY POINTS FROM CORZINE'S SPEECH
Increase tolls 50 percent in 2010, 2014, 2018 and 2022, but the increases would also include adjustments to reflect inflation in the years tolls weren't hiked. After 2022, tolls would rise every four years to reflect inflation.

Use money from the increases to pay state debt and for transportation improvements.

Ask voters to make it tougher for the state to borrow without voter approval.

Limit annual state spending growth to revenue growth.

Keep state spending from increasing in the budget due July 1.



By JONATHAN TAMARI
Gannett State Bureau
TRENTON

Tolls on the Garden State Parkway, New Jersey Turnpike and Atlantic City Expressway could more than quintuple over the next 15 years under Gov. Jon S. Corzine's plan to pay down state debt and pay for decades of transportation projects.

The long-awaited plan, unveiled in detail for the first time Tuesday, would require toll hikes as large as 50 percent in 2010, 2014, 2018 and 2022, plus inflationary increases every four years for the next 75 years. Beginning in 2010 motorists would for the first time pay a toll to drive the four miles of Route 440 connecting the turnpike to the Outerbridge Crossing in Middlesex County.

The toll hikes would help raise up to $38 billion to pay off more than half of the state's $32 billion debt and fund transportation projects, such as a turnpike widening and bridge repairs, for the next 75 years.

The politically daring proposal is Corzine's answer to New Jersey's budget problems that he said have saddled taxpayers with years of debt payments and sapped faith in government.

"Today, I am presenting a restructuring proposal to end the era of financial imbalance and fiscal mismanagement, once and for all," Corzine said in his State of the State speech to the Legislature, delivered in the Assembly chambers.

Corzine called on lawmakers to act on his plan within two months, before he introduces his next budget. He plans on beginning a tour of the state to pitch his proposal Saturday in Livingston.

In addition to paying down debt, he called for a freeze on state spending, tying future spending growth to regular revenue increases and giving voters tighter control on state borrowing, all moves he said would end government's "credit card culture."

Corzine's plan could mean some tolls would be nearly eight times larger than current levels by 2022, depending on inflation. For example, Corzine said a current $1.21 toll on the turnpike would grow to $5.80 by 2018. But the largest toll bump, which would come in 2022, would hike that same trip to nearly $9.50 that year, according to calculations by Gannett New Jersey.

A Middlesex County football fan who now pays $3.05 to drive the turnpike from Exit 9 to Giants Stadium would pay more than $20 by 2022. Within 25 years, some tolls would be more than 10 times as large as today.

The state could reap a windfall from the toll increases within the year. A new "public benefit corporation" would borrow against the promised toll hikes and pay the state to take over management of the roads. The state would still own the roads and impose safety and maintenance standards, according to administration officials who briefed reporters. Any corporation profits would go toward transportation projects. Investors would benefit only from the interest on the loans to the corporation.

Administration officials, noting that many tolls are paid by out-of-state residents, see the increases as the most fair, realistic way to work out of the state's financial hole.

"Pigs will fly over the State House before there is a realistic level of new taxes or spending cuts that can fix this mess," Corzine said.

Corzine will have key political support from Senate President Richard J. Codey, D-Essex, and Assembly Majority Leader Joe Roberts, D-Camden, who both backed the plan, citing a lack of viable alternatives.

Codey said motorists might be more willing to accept toll hikes because E-ZPass users don't see the actual fees they pay.

Republicans attacked the plan as an additional tax and blasted Corzine for relying on more borrowing to pay down existing debt. Assemblyman Richard Merkt, R-Morris, compared the idea to maxing out one credit card, then opening another one.

"This is a solution only my teenagers would have come up with," Merkt said. "Jon Corzine is a little bit old to be doing what a teenager would be doing."

Sen. Jennifer Beck, R-Monmouth, said the proposal would unfairly hit residents in Monmouth, Ocean, Essex and Hudson counties who depend on the turnpike and parkway.

"Anyone that goes along those roads to get to work is going to get crushed by this," Beck said.

Administration officials said the financing plan would be unlike any other tried in the United States in the way it keeps profits flowing to public projects, not investors, and limits political interference by giving up some of the governor's power over the entity running the roads.

Administration officials said the state would not be on the hook for the new borrowing because the new debt would come from the benefit corporation, whose finances Corzine said would not be tied to the state.

But Assemblyman John Wisniewski, D-Middlesex, chairman of the Assembly Transportation Committee and a staunch opponent of the proposal, said the difference will be lost on those paying higher tolls.

"Who are we kidding? The people in this state who use those roads are going to be paying the debt, and their kids are going to be paying the debt, and their grandkids are going to be paying the debt," Wisniewski said.

Reach Jonathan Tamari at jtamari@gannett.com
 

MJMANDALAY

Registered User
Jan 26, 2005
0
#2
Its really time to escape this state
 

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
693
#3
I wish he didn't survive his accident.
 

Begbie

Wackbag Generalissimo
Jul 21, 2003
838
#5
Damn, I actually feel bad for you guys up there. But I'm glad I got out when I did.

With this plan implemented and the whole host of other shitty things that corrupt state is doing, I would expect an increasing number of people just picking up and moving out of that shithole. Even more than the record numbers of people fleeing are now. When honestly was the last time Jersey had a Governor or Senator that actually made a difference and made life in NJ better? McGreevey? Florio? Whitman? That state is in the shitter.
 

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
693
#6
We are in a crisis right now and Norcross is the pilot of our demise. We are fucked. Is there any website that deals with Jersey corruption?
 

Sprite

permanent case of the Moooondays
Apr 27, 2005
0
#7
Great. :arrrh:
 

HummerTuesdays

Another girrrrl!!!
Apr 24, 2005
491
#10
Please call the Governor & voice your displeasure with his tax plan:

Do You Agree with
Gov. Corzine's Plan to
Raise Tolls in New Jersey?

Voice Your Opinion!
Contact the Governor:
609-292-6000 (office)
609-777-2500 (office)
609-292-2000 (Deputy Commissioner)
609-292-3454 (fax)

Or email: http://www.state.nj.us/governor/govmail.html
 

HummerTuesdays

Another girrrrl!!!
Apr 24, 2005
491
#11
Anyone in the Jersey shore area interested in going to the talk this Saturday in Toms River? Do you know if we have to RSVP? I've heard conflicting reports on that. Here's the info:

Saturday, February 2, 2008 2-4pm – Ocean, Toms River
Toms River North High School - Ritacco Center
1245 Old Freehold Rd.
Toms River, NJ 08753

To RSVP or call (609) 777-2210
 

Sinn Fein

Infidel and White Interloper
Wackbag Staff
Aug 29, 2002
898
#12
The only good thing about this plan is that it's going to make my old boss's head explode. He obsessed about toll costs in the past. I can only imagine how crazy this is making him now.

Otherwise, it sucks a bag of dicks.
 

Razor Roman

MJMandalayForPresident2024
Aug 27, 2002
738
#13
We are in a crisis right now and Norcross is the pilot of our demise. We are fucked. Is there any website that deals with Jersey corruption?
It's impossible to get anything done since the same party has had a virtual lock on the state for so long... yes the GOP had the Legislature and Governorship for a while, but on a county level, Middlesex (McGreevey), Camden (Norcross), and all of North Jersey, where all the corrupt politicians are from, the corruption runs thicker than anyone could possibly imagine. It costs us all a small fortune in property taxes. There is such a "good ol' boys" network here that its impossible to get anything done -- they've appointed all the judges, control the county boards of elections, everything. They have truly rigged the entire system.
 

HummerTuesdays

Another girrrrl!!!
Apr 24, 2005
491
#14
The only good thing about this plan is that it's going to make my old boss's head explode. He obsessed about toll costs in the past. I can only imagine how crazy this is making him now.

Otherwise, it sucks a bag of dicks.
Can I watch? Because that alone just might make the toll hike worth it.
 

MrAbovePar

En Taro Anthony
Mar 14, 2005
678
#15
Have a hurricane hit your heavy corrupt areas. You'd be amazed how well it works to clean out the trash. Ever since Katrina ran through New Orleans, the city hasn't had the political strength to appoint whatever corrupt insider they wanted. As such, we're actually appointing new people who have a decent history of reforming corrupt institution.
 

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
693
#16
That's the catch 22 of the state. We suffer from 0 natural disasters. We're fucked.
 
May 24, 2005
166
#17
I lived there for a few years and glad I bailed as well (now in NC). WTF are you guys paying for with all those property taxes, tolls, and every thing else? I don't mind paying taxes and I consider myself pretty liberal but you don't get any additional benefits and you pay about 4X as much.
 

ruckstande

Posts mostly from the shitter.
Apr 2, 2005
693
#18
Anyone in the Jersey shore area interested in going to the talk this Saturday in Toms River? Do you know if we have to RSVP? I've heard conflicting reports on that. Here's the info:

Saturday, February 2, 2008 2-4pm – Ocean, Toms River
Toms River North High School - Ritacco Center
1245 Old Freehold Rd.
Toms River, NJ 08753

To RSVP or call (609) 777-2210
I just read in the paper that a former mayor and cohort were arrested outside of a town hall meeting where Corzine was speaking about the toll hike. They protested outside and got hauled in.
 

HummerTuesdays

Another girrrrl!!!
Apr 24, 2005
491
#19
That was down in Cape May. Steve Lonigan (sp?). He's not being charged with anything because he did nothing wrong. Corzine (or his people) ordered his arrest.

As long as you're not holding up signs you'll be fine. :)

ADD, we're paying for corruption, for the rich to get richer, and for the illegal aliens to live 30 to a house designed for 4 and send 10 kids to school on property taxes that expect there to only be 2. We're paying for shit holes like Camden, Newark, and Paterson to continue to be shit holes. Should I continue?
 
Jun 2, 2005
0
#20
That was down in Cape May. Steve Lonigan (sp?). He's not being charged with anything because he did nothing wrong. Corzine (or his people) ordered his arrest.

As long as you're not holding up signs you'll be fine. :)

ADD, we're paying for corruption, for the rich to get richer, and for the illegal aliens to live 30 to a house designed for 4 and send 10 kids to school on property taxes that expect there to only be 2. We're paying for shit holes like Camden, Newark, and Paterson to continue to be shit holes. Should I continue?
And it's all able to happen because they keep passing laws limiting our personal freedoms and no one says anything because they buy the "It'll make you safer" line of bullshit.
 

Capt.Caveman

Totally unlikeable
Jan 13, 2005
273
#21
Keep voting democrat retards!!!!! and i mean retards in the meanest possible way. when is everyone gonna relize the democrats cost you money!!!!!! the only people who benefit from democrats are lazy n!ggers who don't wanna work and illegals.republicans, though irratating with the religion non sense, put more money in your pocket. their philosophy if the more money you have the more your gonna spend. fuck corzine i wish he died in that accident
 
Dec 25, 2005
513
#22
It's surprising that Corzine hasn't been assassinated yet. This is unreal.