The 23 Cents Gas Tax in NJ may get a tax hike again this Fall, according to this report. An increase in New Jersey’s gas tax this fall looks increasingly likely, as collections have fallen behind expectations. “I’m going to say about 3 cents, maybe. It’s a really rough, off the top of my head estimate,” Frank Haines, the Office of Legislative Services budget and finance officer, said Monday at an Assembly Budget Committee hearing.
When the nearly 23 cent per gallon increase was approved in 2016, it was done so through a formula that guarantees the state a predictable level of revenue -- $1.16 billion, on top of the existing gas tax collections that already existed at the time. Read more at NJ101.5
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