‘Reckless borrowing’ has ravaged NJ transportation, says Prieto
Aug 14, 2014 | 491 views | 0 0 comments | 5 5 recommendations | email to a friend | print
New Jersey’s transportation network is “running on fumes” as a result of flawed borrowing practices, claimed State Assembly Speaker Vincent Prieto in a op-ed piece for The Record of Bergen County on Wednesday, Aug. 13.

“New Jersey needs a modern and safe transportation network for its economic survival, but years of foolish borrowing leave our state teetering on the brink of a transportation disaster,” Prieto wrote.

He announced that the Assembly would be hosting hearings over the coming months to address the bankrupt Transportation Trust Fund and how to meet transportation needs.

“The American Society of Civil Engineers notes two-thirds of New Jersey’s roads are in poor or mediocre quality, with 36 percent of the bridges deficient or obsolete,” Prieto stated in the piece.

Among the issues to be addressed are the safety of New Jersey’s bridges, how to improve the roadways, and how mass transit can impact the situation.

Prieto stated a goal of raising about $1.6 billion. A gas tax increase is one option for generating some of the funds, with Prieto insisting that additional bonding should not be considered.

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