Christie Reaches Deal to Raise Gas Tax for Transportation
TRENTON, N.J. (AP) — Gas taxes in New Jersey would go up 23 cents per gallon under a deal reached between Republican Gov. Chris Christie and Democratic leaders. Christie announced the eight-year deal which would also eliminate the estate tax and cut the sales tax Friday afternoon. He held a statehouse news conference with Senate President Steve Sweeney and Assembly Speaker Vincent Prieto. The deal to raise $2 billion a year still needs approval in both houses of the Legislature. The estate tax would be phased out over the next year and a half and the sales tax would be cut by 3/8ths of a percentage point. There will also be tax credits for veterans and the working poor. It would be the first gas tax hike since 1988. Christie had ordered a shutdown of most transit projects earlier this summer.