A 'Yes' Vote Will Ensure All State Gas Tax Revenue is Constitutionally Dedicated to Funding Transportation Projects
Over the past few weeks, we have seen transformational legislation passed by the state Legislature and signed into law by Gov. Christie - legislation that will go a long way in restoring New Jersey's long-term economic health and making our state more affordable for everyone.
To ensure we protect this progress, we urge you to vote "Yes" on Ballot Question 2 on Nov. 8.
Ballot Question 2 ensures all revenue from the recently enacted gas tax must be constitutionally dedicated to the Transportation Trust Fund, allowing the state to finally get to work on rebuilding New Jersey's crumbling roads and bridges.
The successful passage of Question 2 will end the misuse of funds meant for transportation infrastructure, and it will provide a sustainable and steady source of funding for our infrastructure.
If Question 2 does not pass, New Jersey's transportation system could quickly revert to a broken system.
Given that New Jersey has the eighth worst bridges in the nation and road conditions that cost the average motorist more than $2,600 per year in operating costs, accidents and traffic delays, this dedicated funding source would provide safety and a much-needed economic boost for New Jerseyans.
Improved infrastructure means less congestion and traffic for New Jersey commuters and improved efficiency for businesses.
Voting 'Yes' on Question 2 also will require the out-of-staters who use New Jersey's roads to pay their fair share when they fill-up in New Jersey.
To find your voting location, click here.
Reviewing Our Tax Reform Victory: Elimination of the Estate Tax
The landmark legislation that restores critical transportation funding also brings something the New Jersey Chamber of Commerce has spent years fighting to enact: the phase out of the New Jersey estate tax.
"For too long, New Jersey has been one of only two states in the nation with both an estate tax and an inheritance tax," said Tom Bracken, president and CEO of the New Jersey Chamber of Commerce. "That double taxation is a reason why many executives leave New Jersey before they retire; and why they think twice before moving or expanding their companies here. The result has been a loss of income tax revenue and a loss of jobs for the people of New Jersey."
"This tax reform sends a clear signal that New Jersey is open for business," Bracken added.
Sales and Income Tax Cuts
Other important tax reform in this legislation includes a reduction in the state sales tax, and much needed tax relief to seniors, veterans and low income workers through income tax cuts.
"When put altogether, this legislation will make New Jersey a more affordable place to work, to live and to retire," said Michael Egenton, executive vice president of government relations at the N.J. Chamber of Commerce. "It's important that we do our part on Nov. 8 and vote 'Yes" on Question 2."
