What to Know
- If passed, the agreement would raise the state's gas tax from 14.5 cents to 37.5 cents a gallon
- That's still lower than the tax in New York and Pennsylvania
- The deal cuts sales and estate taxes and offers tax credits to veterans and low-income residents
If you're used to filling up the gas tank in New Jersey for cheap, act fast because the good times will soon be over.
The New Jersey State Senate and Assembly voted Friday to raise the tax from 14.5 cents to 37.5 cents a gallon. That's still lower than neighboring New York and Pennsylvania, but higher than Alaska, which has the lowest gas tax in the country.
Gov. Chris Christie helped craft the measure and is expected to sign it.
The bill passed 44-27 in the Assembly and 24-14 in the Senate.
The deal establishes a $2 billion-a-year transportation trust fund over eight years and cuts the sales and estate taxes, while also offering veterans and low-income residents tax credits, among other measures.
Copyright AP - Associated Press
