PENNSAUKEN, NJ - Thursday, the New Jersey Senate and Assembly budget committees approved a gasoline tax reform package that could soon have motorists digging deeper into their pockets at the pump.
If Governor Christie and Republicans agree and approve the controversial tax hike, it would be an additional 23 cents on every gallon of gasoline you buy in the Garden State.
For example, gas at the WaWa in Pennsauken was $1.97 Friday morning. So if you have a 12-gallon tank, and it is on empty, it would cost you about $23.64 to fill up right now. But if the new gas tax gets approved, the same tank would cost $26.40.
With just a week to go before the state Transportation Trust Fund expires, and a month or two before it runs out of money, both panels approved the 23 cent gas tax hike, which would bring the state’s gas taxes to about 37 cents a gallon, which is about the 7th highest in the nation.
The tax would be swapping a 155 percent increase in the gas tax for a package of four tax cuts, including the complete phase out of the controversial estate tax.
It’s still unclear whether Governor Christie would sign the bill if it gets approved by the full Assembly and Senate.
Only two republicans on either committee voted for the proposal.