Do you approve amending the Constitution to dedicate all revenue from the State motor fuels tax and petroleum products gross receipts tax to the Transportation Trust Fund?This amendment would provide that an additional three cents of the current motor fuels tax on diesel fuel, which is not dedicated for transportation purposes, be dedicated to the Transportation Trust Fund. In doing so, the entire State tax on diesel fuel would be used for transportation purposes. The entire State tax on gasoline is currently dedicated to the Transportation Trust Fund and used for transportation purposes.
The amendment would also provide that all of the revenue from the current State tax on petroleum products gross receipts be dedicated to the Transportation Trust Fund. In doing so, the entire State tax on petroleum products gross receipts would be used for transportation purposes.
This amendment does not change the current tax on motor fuels or petroleum products gross receipts
From LibertyAndProsperity.org. by Seth Grossman
Do you really think NJ's richest insiders are spending all this money on Ballot Question #2 because they care about taxpayers? They are already bragging that most of the $12 billion they plan to borrow will be spent on expensive Democrat pay-back projects like the empty trains between Camden and Trenton. Only a "No" vote can stop this scheme. Only a "No" vote can force these insiders to again spend gas tax money for roads and bridges.
Ballot Question #2 is super dishonest–even by Jersey standards. Christie Wall Street Republicans, and Sweeney/Prieto Big Union Democrats just hiked the NJ gas tax by 61%. They want a “Yes” vote on Ballot Question #2 to pay back their big donors and make that tax hike permanent.
A “yes” vote “dedicates” all gas tax money to “the transportation system”. That sounds like a good idea to most people. However a “dedicated” tax has a special meaning to Wall Street bankers.
New Jersey’s State Constitution does requires voter approval whenever the state borrows money. When “independent” state authorities borrow money without voter approval, taxpayers have no legal or moral obligation to bail them out with tax hikes. Wall Street banks are worried that New Jersey voters will wake up and refuse to pay billions in loans that were never approved by voters.
However, taxpayers can be forced to pay debts that are secured by a “dedicated” tax. That is why both the Republican and Democrat establishments want you to vote “yes” vote on Ballot Question 2.
A “yes” vote on Tuesday “dedicates” all gas tax money to “the transportation system”. That new “dedicated” tax will let the insolvent NJ Transportation “Trust” Fund Authority hock future gas tax collections for the next 20 years. This would let the TTF Authority borrow another $12 billion on top of the $16 billion it previously borrowed without voter approval. Since all future tax hike money will be going to Wall Street, we will again have nothing left to build and fix roads and bridges once the borrowed money is spent. That means we will have another “crisis” with dangerous roads and bridges in just a few years.
Finally, the term “transportation system” is also a dishonest. Most people think that gas tax money pays for roads and bridges. However, billions of dollars of “transportation trust” funds restored “historic” train stations in towns like Richland where there are no trains. They built the most expensive (and usually empty) train in the country between Camden and Trenton. They built decorative brick sidewalks for an upscale park and shopping area in Toms River.
Because the $16 billion previously borrowed by the TTF Authority was never approved by voters, taxpayers have no moral or legal obligation to pay it back. We should just let the insolvent Transportation Trust Fund go bankrupt. However, a “yes” vote on Tuesday may take away that option.