SPEAKER OLIVER’S STATEMENT ON PROPOSED TRANSPORTATION FUNDING PLAN

Assembly Speaker Sheila Y. Oliver today released the following statement on Governor Christie’s plan to borrow more than $4 billion to fund half of his $8 billion proposed transportation plan:

“The Governor has slapped together a haphazard plan to fund the state’s transportation needs that relies on many of the same gimmicks he has long derided others for. With more than half of the $8 billion dollar plan funded by irresponsible borrowing, one would have to question the suspect timing of this announcement.

“This is not what the Governor had promised to do. Instead of putting forth an innovative proposal to address our critical transportation needs, the residents of this state will simply be saddled with more debt.

“Moreover, nearly a quarter of the funding plan relies on yet obtained approval from the Port Authority of New York and New Jersey.

“In the days and weeks ahead, the Assembly will certainly pore through this proposal to see how we can improve upon this plan.”