As today’s Assembly Budget Committee addresses Governor Christie’s proposed plans for transportation, Assemblyman Albert Coutinho (D-Essex/Union) noted that a lack of details and an overreliance on borrowing present many problems for the state’s Transportation Trust Fund (TTF).
“After hearing from stakeholders today, I have some serious concerns about the adequacy and stability of the Governor’s Transportation Trust Fund plan, specifically the overreliance on borrowing.
“The state of our transportation infrastructure is crucial to our economy, which is largely dictated by the flow of goods and services.
“The Governor’s TTF plan includes $4.4 billion in new debt, $1.2 billion of which is for the upcoming fiscal year. Since the Governor announced his five-year TTF plan in early January, we have seen few to no details about how this debt will be paid off.
“Today’s testimony left me with many concerns. This seems to be an irresponsible plan and one that does not do nearly enough to address our long-term transportation needs,” said Coutinho, a member of the Assembly Budget Committee.