Now that the legislature is getting ready to authorize bids for leasing the NJ Turnpike and Garden State Parkway for an immediate cash infusion of $10 to $15 billion, I thought I'd bring up a few points that haven't been mentioned yet.
Trenton is famous for unintended consequences and opportunities, so here are a few flies for the ointment.
1)If the highways become private enterprises, can municipalities and county collect property taxes on them? If the NJ Supreme Court agrees with the appellate court that the PNC Arts Center owes Holmdel back taxes, you can bet that Mayors and Freeholders all over NJ will want their fair share from the highways.
2)Everyone agrees that tolls will go up if road are privatized. But what about sales taxes? What is 7% of the annual take on tolls. Think of all the good pork barrel projects the legislature could do with that money! Carla Katz could get a much nicer new house for twice the price of the last one. 2 x 0 .
3) One way tolls have become increasingly popular in recent years. Watch for more entrances into NJ to be toll free to lure the suckers in and double tolls for the stampede out.
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1 comment:
This (state's) full of money grabbers. Go ahead, bite the Big (Tomato). Don't bite the maggots.
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