New Jersey's Transportation Funding: What You Need to Know

Mar 29, 2024

New Jersey is raising funds for infrastructure projects through changes in transportation funding.

Introduction

Governor Phil Murphy signed a reauthorization of the state's transportation trust fund.

Reauthorization of Transportation Trust Fund

The target for the transportation trust fund has been raised to $2.37 billion.

Increased Revenue Target

Annual fuel levies are estimated to increase by 2 cents.

Impact on Fuel Levies

Electric vehicle owners will have to pay an annual registration fee of $250, increasing each year.

Registration Fee for EVs

The registration fee will contribute to funding for road, rail, and bridge projects.

Funding Road, Rail, and Bridge Works

Some environmental advocates are concerned about the impact on affordability and the move to ban gas and diesel cars.

Concerns of Environmental Advocates

The registration fee is expected to raise approximately $61.3 million in the first fiscal year, increasing over time.

Projected Revenue