NJ to raise gas tax by 10 cents to counter the effect of governors lockdown measures during Covid
If fewer miles are being driven because of Covid there is less revenue coming to the state via gas taxes. The “solution” according to Governor Murphy? Increase the cost of each mile driven in the state for those who are still driving.
(From Insider NJ)
From Bloomberg’s Elise Young in a report yesterday: ‘Over 24 months, New Jersey projects a $334 million revenue drop from the motor-fuels and petroleum products gross receipts tax, according to a budget summary released on Tuesday. To plug the gap, Murphy is examining raising the 41.4-cents-per-gallon tax by as much as 25%, said the person, who spoke on condition of anonymity because they weren’t authorized to discuss internal business publicly.’
This article was originally posted here: https://www.ac2news.com/2020/08/nj-to-raise-gas-tax-by-10-cents-to-counter-the-effect-of-governors-lockdown-measures-during-covid/.