New Jersey’s state debt has more than tripled in the last decade.
- At $32 billion, New Jersey has one of the highest debt burdens of any state in the country. At $3,700, the per-capita debt burden is three times the national average.
- The New Jersey Turnpike has one of the lowest tolls in the nation—5.2 cents a mile. Traveling on the Garden State Parkway (2.3 cents) and Atlantic City Expressway (2.2 cents) is even cheaper, especially when compared with Maryland’s JFK Memorial Highway (10 cents), the Delaware Turnpike (27 cents) and California’s Riverside Freeway express lanes (95 cents).
- The New Jersey Department of Transportation has identified 10,000 miles of highways that need to be resurfaced, and 700 bridges that need to be rebuilt or repaired, to meet safety standards.
- NJ Transit, the nation’s largest statewide transit system (with ridership exceeding 250 million passenger trips per year on 242 bus routes, 11 commuter rail lines and three light rail lines), has increased fares three times since 2002. Meanwhile, the state’s gasoline tax has remained at 10.5 cents a gallon since 1988, and tolls on the Parkway have not risen since 1989.
The Numbers Add Up to a Plan
Gov. Jon Corzine did the arithmetic—$32 billion in debt, 5.2 cents a mile, 10,000 miles of highway repairs, 700 bridges and 250 million passenger trips on public transit—and came up with his long-awaited financial restructuring plan, which he unveiled in his State of the State message on Jan. 8.
The plan would turn operation of the Turnpike, Parkway, Expressway and Route 440 over to a public benefits corporation for the next 75 years. Tolls on these roads would increase by 50 percent every four years from 2010 to 2022; subsequent increases would be linked to the rate of inflation. Because the corporation would have a steady, predictable income stream through 2085, it would be able to float up to $38 billion in bonds up front, and turn the proceeds over to the state in one lump sum.
Gov. Corzine proposes to use this money to pay off half the state’s outstanding debt, as well as fund what he referred to as “statewide transportation needs across New Jersey’s broad, multi-modal transportation network.” As he acknowledged in his speech, this means transit investment as well as highway and bridge maintenance and repairs. “We need to expand mass transit so as to get cars off the roads and carbon out of the air—be it light rail into Gloucester County or the Northern branch through Bergen County,” the governor said. “And the state needs by this summer … a ‘source certain’ of $3 billion to move forward with the monumental Hudson Tunnel, or we risk losing matching federal dollars that make the $7 billion-plus investment possible.”
The Plan’s Consequences, Intended and Otherwise
Together with a freeze on state spending at current levels, a commitment not to allow future spending to exceed recurring revenue growth and a constitutional amendment requiring any new state debt to have a dedicated revenue source, the governor’s financial restructuring plan aims to create what he calls “the foundation for economic development, job growth and honest government.”
How—and where—this economic development and job growth will occur remains an issue of vital concern. As the governor’s plan works its way through the legislative process, it will be important to assess its potential impact on commuting patterns, on auto emissions and greenhouse gases, on transportation choices, on development and redevelopment decisions and a host of other factors that will shape New Jersey’s future.
Here are just a few of the questions that need to be asked—and answered—in the weeks and months ahead:
- With the steady increases in tolls, might mass transit become a more viable and attractive option for some commuters? Will carpooling become more popular? In the long term, will workers be more inclined to seek housing closer to their places of employment to cut down on ever-increasing commuting costs?
- If more motorists are inspired by the higher tolls to switch to mass transit, should a larger share of transportation funding go toward upgrading rail, bus and light rail service? If carpooling becomes more popular, should dedicated carpool lanes be expanded on the toll roads?
- How do toll increases compare, in terms of fairness, equity and progressivity, with raising other potential sources of revenue: the gas tax, the income tax, the sales tax? Would it make sense to raise the gas tax along with the tolls, thus spreading the cost across all motorists, not just those who drive on toll roads?
If you have any questions about this issue of Future Facts, please contact Rick Sinding, Senior Communications Consultant.
Related Blog
11/26/2025
08/12/2025
07/16/2025
07/15/2025
07/15/2025
07/01/2025
07/01/2025
07/01/2025
06/30/2025
06/30/2025
06/30/2025
06/26/2025
06/19/2025
06/19/2025
06/16/2025
05/21/2025
05/15/2025
04/22/2025
04/01/2025
03/14/2025
03/13/2025
02/18/2025
02/18/2025
12/02/2024
09/19/2024
08/30/2024
07/30/2024
07/30/2024
07/30/2024
07/30/2024
07/30/2024
07/30/2024
06/24/2024
06/24/2024
03/29/2024
03/29/2024
03/19/2024
03/19/2024
03/15/2024
01/29/2024
01/12/2024
12/18/2023
12/05/2023
12/05/2023
11/30/2023
10/12/2023
09/20/2023
09/18/2023
08/08/2023
07/20/2023
07/20/2023
07/20/2023
07/20/2023
07/20/2023
07/18/2023
07/18/2023
07/18/2023
07/18/2023
07/18/2023
07/17/2023
07/17/2023
07/17/2023
06/06/2023
05/17/2023
05/17/2023
05/11/2023
03/17/2023
03/16/2023
02/06/2023
01/31/2023
01/30/2023
01/20/2023
01/17/2023
01/04/2023
05/01/2023
04/19/2023
04/17/2023
11/29/2022
11/11/2022
10/25/2022
10/21/2022
10/18/2022
09/22/2022
09/21/2022
08/16/2022
08/09/2022
07/19/2022
07/19/2022
07/11/2022
07/11/2022
07/11/2022
07/11/2022
07/11/2022
07/08/2022
07/08/2022
07/08/2022
07/08/2022
07/08/2022
07/08/2022
07/08/2022
07/07/2022
07/07/2022
06/30/2022
06/29/2022
06/27/2022
06/24/2022
06/22/2022
06/10/2022
05/23/2022
05/23/2022
05/20/2022
04/25/2022
03/24/2022
02/22/2022
02/18/2022
01/19/2022
12/07/2021
12/02/2021
11/01/2021
10/13/2021
10/13/2021
10/13/2021
09/13/2021
09/13/2021
09/13/2021
09/13/2021
07/19/2021
07/19/2021
07/19/2021
07/19/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/25/2021
06/24/2021
06/24/2021
06/24/2021
06/15/2021
06/15/2021
06/15/2021
05/06/2021
05/04/2021
04/30/2021
04/12/2021
04/12/2021
04/12/2021
03/15/2021
03/15/2021
03/15/2021
03/05/2021
02/15/2021
02/15/2021
02/11/2021
02/11/2021
02/10/2021
02/09/2021
01/15/2021
12/21/2020
08/06/2020
08/06/2020
07/14/2020
07/14/2020
07/14/2020
06/12/2020
05/26/2020
04/19/2020
03/11/2020
03/11/2020
03/02/2020
03/02/2020
02/17/2020
11/10/2020
11/10/2020
11/09/2020
11/09/2020
11/09/2020
10/14/2020
10/14/2020
10/14/2020
10/14/2020
09/16/2020
09/16/2020
09/15/2020
09/15/2020
09/04/2020
08/11/2020
08/06/2020
07/14/2020
07/14/2020
06/12/2020
06/12/2020
06/10/2020
06/05/2020
06/03/2020
05/26/2020
05/06/2020
05/05/2020
05/05/2020
04/15/2020
04/15/2020
04/09/2020
03/13/2020
03/11/2020
03/09/2020
02/20/2020
02/17/2020
01/16/2020
01/14/2020
01/13/2020
01/07/2020
09/04/2019
08/13/2019
05/06/2019
04/24/2019
03/22/2019
03/18/2019
03/13/2019
03/01/2019
03/01/2019
03/01/2019
02/26/2019
01/14/2019
01/02/2019
01/02/2019
12/17/2019
12/12/2019
12/11/2019
12/09/2019
11/11/2019
11/11/2019
11/06/2019
11/06/2019
10/25/2019
10/18/2019
10/17/2019
10/15/2019
10/14/2019
10/14/2019
10/11/2019
10/03/2019
09/25/2019
09/23/2019
09/09/2019
09/06/2019
09/06/2019
09/06/2019
09/05/2019
09/04/2019
09/04/2019
09/04/2019
09/03/2019
08/28/2019
08/28/2019
08/26/2019
08/19/2019
08/13/2019
08/13/2019
08/12/2019
08/12/2019
08/09/2019
08/09/2019
07/29/2019
07/19/2019
07/19/2019
07/19/2019
07/17/2019
07/17/2019
07/16/2019
07/16/2019
07/16/2019
07/10/2019
07/03/2019
06/24/2019
06/21/2019
06/21/2019
06/10/2019
06/10/2019
06/07/2019
06/07/2019
06/07/2019
06/03/2019
06/03/2019
06/03/2019
06/03/2019
05/23/2019
05/22/2019
05/21/2019
05/20/2019
05/20/2019
05/20/2019
05/17/2019
05/17/2019
05/13/2019
05/13/2019
05/10/2019
05/08/2019
05/08/2019
05/08/2019
05/08/2019
05/03/2019
05/03/2019
04/29/2019
04/29/2019
04/22/2019
04/22/2019
04/19/2019
04/17/2019
04/17/2019
04/10/2019
04/10/2019
04/10/2019
04/03/2019
04/03/2019
04/03/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/29/2019
03/22/2019
03/22/2019
03/18/2019
03/15/2019
03/15/2019
03/04/2019
03/01/2019
03/01/2019
03/01/2019
03/01/2019
02/27/2019
02/27/2019
02/25/2019
02/25/2019
02/25/2019
02/25/2019
02/25/2019
02/25/2019
02/18/2019
02/18/2019
02/18/2019
02/18/2019
02/06/2019
02/04/2019
02/04/2019
02/01/2019
02/01/2019
01/31/2019
01/30/2019
01/29/2019
01/28/2019
01/28/2019
01/28/2019
01/25/2019
01/25/2019
01/25/2019
01/23/2019
01/18/2019
01/18/2019
01/18/2019
01/18/2019
01/16/2019
01/10/2019
01/10/2019
01/10/2019
01/09/2019
01/07/2019
01/04/2019
01/04/2019
01/04/2019
01/04/2019
01/04/2019
12/06/2018
12/03/2018
11/07/2018
11/05/2018
11/02/2018
10/25/2018
10/23/2018
10/23/2018
10/12/2018
10/08/2018
10/02/2018
09/25/2018
09/04/2018
08/17/2018
08/17/2018
08/13/2018
07/25/2018
07/24/2018
05/31/2018
05/25/2018
05/16/2018
05/03/2018
05/01/2018
05/01/2018
04/26/2018
04/18/2018
04/10/2018
04/04/2018
04/02/2018
03/30/2018
03/29/2018
03/27/2018
03/26/2018
03/20/2018
03/16/2018
02/06/2018
01/05/2018
01/04/2018
01/04/2018
12/18/2018
09/12/2018
07/19/2018
03/28/2018
12/20/2017
12/12/2017
12/06/2017
11/30/2017
11/27/2017
11/22/2017
11/17/2017
11/03/2017
10/25/2017
10/18/2017
09/28/2017
09/27/2017
09/19/2017
09/18/2017
08/31/2017
08/31/2017
08/14/2017
08/02/2017
07/24/2017
07/20/2017
07/14/2017
06/29/2017
06/28/2017
06/12/2017
05/26/2017
05/23/2017
05/05/2017
04/12/2017
04/11/2017
04/10/2017
04/05/2017
03/27/2017
03/23/2017
03/20/2017
03/20/2017
03/20/2017
03/17/2017
03/10/2017
02/21/2017
02/17/2017
02/16/2017
02/08/2017
02/08/2017
01/26/2017
01/24/2017
01/19/2017
01/19/2017
01/10/2017
01/10/2017
12/13/2017
12/06/2016
11/18/2016
11/16/2016
11/14/2016
11/08/2016
11/01/2016
10/20/2016
10/17/2016
10/12/2016
10/05/2016
09/28/2016
09/14/2016
08/22/2016
08/10/2016
07/28/2016
07/27/2016
07/13/2016
06/24/2016
06/23/2016
06/02/2016
06/02/2016
05/26/2016
05/25/2016
05/23/2016
05/20/2016
05/20/2016
05/18/2016
05/17/2016
05/16/2016
05/13/2016
05/04/2016
04/27/2016
04/19/2016
04/18/2016
04/11/2016
04/06/2016
04/04/2016
04/04/2016
03/28/2016
03/24/2016
03/23/2016
03/22/2016
03/17/2016
03/17/2016
03/15/2016
03/07/2016
02/23/2016
02/18/2016
02/18/2016
02/09/2016
02/05/2016
01/27/2016
01/26/2016
01/22/2016
01/19/2016
01/13/2016
01/07/2016
12/15/2015
12/15/2015
12/15/2015
12/08/2015
11/19/2015
11/10/2015
11/03/2015
10/28/2015
10/27/2015
10/26/2015
10/19/2015
10/06/2015
10/05/2015
09/24/2015
09/10/2015
09/01/2015
08/19/2015
08/14/2015
08/12/2015
08/04/2015
07/30/2015
07/27/2015
07/10/2015
07/10/2015
07/08/2015
07/01/2015
06/29/2015
06/22/2015
06/18/2015
06/15/2015
05/15/2015
05/13/2015
05/13/2015
05/05/2015
05/04/2015
04/28/2015
04/28/2015
04/22/2015
04/21/2015
04/13/2015
04/10/2015
04/10/2015
03/30/2015
03/26/2015
03/18/2015
03/18/2015
03/17/2015
03/12/2015
03/10/2015
02/27/2015
02/19/2015
02/18/2015
02/17/2015
02/06/2015
02/04/2015
02/02/2015
01/27/2015
01/23/2015
01/21/2015
01/20/2015
01/15/2015
01/15/2015
01/15/2015
01/06/2015
12/19/2014
12/12/2014
12/10/2014
12/05/2014
12/02/2014
11/19/2014
11/17/2014
11/10/2014
11/06/2014
11/06/2014
11/01/2014
10/22/2014
10/21/2014
10/16/2014
10/09/2014
10/06/2014
10/06/2014
10/03/2014
10/02/2014
09/30/2014
09/23/2014
09/23/2014
09/18/2014
09/17/2014
09/16/2014
09/15/2014
09/11/2014
09/11/2014
09/09/2014
09/04/2014
08/27/2014
08/26/2014
08/25/2014
08/04/2014
08/01/2014
07/29/2014
07/25/2014
07/24/2014
07/02/2014
06/26/2014
06/26/2014
06/25/2014
06/23/2014
06/18/2014
06/18/2014
06/05/2014
06/03/2014
05/20/2014
05/16/2014
05/14/2014
05/06/2014
04/24/2014
04/17/2014
04/11/2014
04/10/2014
04/04/2014
04/04/2014
04/03/2014
04/03/2014
04/01/2014
04/01/2014
03/21/2014
03/20/2014
03/20/2014
03/20/2014
03/20/2014
03/11/2014
03/07/2014
03/05/2014
02/25/2014
02/20/2014
02/18/2014
02/18/2014
02/14/2014
02/10/2014
02/10/2014
02/07/2014
02/06/2014
02/04/2014
01/29/2014
01/28/2014
01/28/2014
01/16/2014
02/12/2014
11/19/2013
11/14/2013
11/13/2013
11/05/2013
11/04/2013
11/01/2013
10/30/2013
10/25/2013
10/22/2013
10/21/2013
10/20/2013
10/20/2013
10/16/2013
10/16/2013
10/10/2013
10/02/2013
09/26/2013
09/25/2013
09/18/2013
09/10/2013
08/19/2013
08/08/2013
08/05/2013
08/02/2013
07/24/2013
07/24/2013
07/23/2013
07/22/2013
07/22/2013
07/22/2013
07/19/2013
07/18/2013
07/18/2013
07/09/2013
07/02/2013
06/25/2013
06/18/2013
06/17/2013
06/13/2013
06/12/2013
06/12/2013
06/12/2013
06/03/2013
05/21/2013
05/16/2013
05/16/2013
05/07/2013
04/30/2013
04/29/2013
04/29/2013
04/11/2013
04/04/2013
04/04/2013
04/01/2013
03/26/2013
03/25/2013
03/25/2013
03/22/2013
03/20/2013
03/19/2013
03/13/2013
03/13/2013
03/11/2013
03/07/2013
03/04/2013
03/04/2013
03/04/2013
02/27/2013
02/21/2013
02/20/2013
02/05/2013
01/31/2013
01/30/2013
01/24/2013
01/16/2013
01/03/2013
01/02/2013
12/10/2012
11/30/2012
11/21/2012
11/20/2012
11/20/2012
11/19/2012
11/19/2012
11/15/2012
11/15/2012
11/14/2012
11/13/2012
11/12/2012
11/12/2012
11/08/2012
11/02/2012
11/01/2012
10/17/2012
10/11/2012
09/24/2012
09/19/2012
09/12/2012
08/29/2012
08/03/2012
07/18/2012
07/17/2012
06/28/2012
06/19/2012
06/12/2012
06/01/2012
05/31/2012
05/31/2012
05/24/2012
05/21/2012
05/18/2012
05/14/2012
05/01/2012
04/30/2012
04/20/2012
04/18/2012
04/18/2012
04/13/2012
04/03/2012
04/02/2012
03/30/2012
03/28/2012
03/22/2012
03/22/2012
03/21/2012
03/21/2012
03/05/2012
02/13/2012
02/13/2012
02/09/2012
02/09/2012
01/27/2012
01/26/2012
01/19/2012
01/17/2012
01/11/2012
01/09/2012
01/04/2012
12/13/2012
09/12/2012
12/14/2011
12/09/2011
12/09/2011
12/08/2011
12/01/2011
12/01/2011
11/21/2011
11/17/2011
11/17/2011
11/16/2011
11/14/2011
11/14/2011
11/03/2011
11/02/2011
11/01/2011
10/27/2011
10/23/2011
10/19/2011
10/14/2011
10/12/2011
10/11/2011
10/05/2011
10/04/2011
09/29/2011
09/28/2011
09/22/2011
09/22/2011
09/13/2011
09/07/2011
09/01/2011
08/25/2011
08/24/2011
08/24/2011
08/19/2011
08/12/2011
08/11/2011
08/11/2011
08/05/2011
08/01/2011
08/01/2011
07/28/2011
07/21/2011
07/21/2011
07/19/2011
07/07/2011
07/06/2011
07/05/2011
06/29/2011
06/27/2011
06/26/2011
06/23/2011
06/20/2011
06/17/2011
06/15/2011
06/13/2011
06/11/2011
06/07/2011
06/03/2011
06/01/2011
05/26/2011
05/24/2011
05/23/2011
05/17/2011
05/17/2011
05/13/2011
05/12/2011
05/04/2011
04/26/2011
04/25/2011
04/21/2011
04/08/2011
04/01/2011
03/31/2011
03/31/2011
03/28/2011
03/21/2011
03/16/2011
03/16/2011
03/10/2011
03/08/2011
03/03/2011
02/28/2011
02/25/2011
02/24/2011
02/24/2011
02/22/2011
02/21/2011
02/18/2011
02/17/2011
02/16/2011
02/16/2011
02/15/2011
02/15/2011
02/14/2011
02/10/2011
02/08/2011
02/07/2011
01/31/2011
01/31/2011
01/31/2011
01/20/2011
01/19/2011
01/18/2011
01/14/2011
01/13/2011
01/11/2011
01/07/2011
01/06/2011
01/05/2011
01/05/2011
03/02/2011
12/28/2010
12/21/2010
12/21/2010
12/21/2010
12/17/2010
12/17/2010
12/15/2010
12/14/2010
12/14/2010
12/09/2010
12/09/2010
12/02/2010
11/19/2010
11/16/2010
11/15/2010
11/10/2010
10/27/2010
10/26/2010
10/15/2010
10/14/2010
10/12/2010
10/08/2010
10/07/2010
10/05/2010
10/01/2010
09/30/2010
09/24/2010
09/20/2010
09/18/2010
09/15/2010
09/01/2010
08/25/2010
08/24/2010
08/04/2010
08/03/2010
07/30/2010
07/29/2010
07/28/2010
07/26/2010
07/23/2010
07/23/2010
07/08/2010
07/06/2010
06/18/2010
06/17/2010
06/17/2010
06/10/2010
06/09/2010
06/02/2010
05/26/2010
05/25/2010
05/24/2010
05/14/2010
05/13/2010
05/12/2010
05/11/2010
05/06/2010
05/03/2010
04/28/2010
04/27/2010
04/26/2010
04/22/2010
04/22/2010
04/22/2010
04/20/2010
04/19/2010
04/16/2010
04/09/2010
04/05/2010
04/01/2010
03/31/2010
03/30/2010
03/25/2010
03/11/2010
03/10/2010
03/05/2010
03/01/2010
02/18/2010
02/17/2010
02/16/2010
02/11/2010
02/11/2010
02/05/2010
01/29/2010
01/28/2010
01/21/2010
01/14/2010
01/11/2010
02/10/2010
12/23/2009
12/22/2009
12/17/2009
12/04/2009
11/25/2009
11/17/2009
11/04/2009
11/03/2009
10/29/2009
10/27/2009
10/26/2009
10/19/2009
10/15/2009
10/15/2009
10/13/2009
10/09/2009
10/08/2009
10/05/2009
10/01/2009
09/30/2009
09/28/2009
09/27/2009
09/27/2009
09/27/2009
09/27/2009
08/19/2009
07/15/2009
07/01/2009
06/24/2009
06/18/2009
06/01/2009
05/20/2009
05/04/2009
04/20/2009
04/03/2009
03/18/2009
03/04/2009
02/18/2009
02/04/2009
01/15/2009
12/31/2008
12/17/2008
12/05/2008
11/24/2008
11/03/2008
10/21/2008
10/06/2008
09/22/2008
09/05/2008
08/06/2008
07/17/2008
07/02/2008
06/13/2008
06/02/2008
05/15/2008
05/07/2008
04/14/2008
04/04/2008
03/19/2008
03/06/2008
02/26/2008
02/20/2008
12/28/2007
12/19/2007
12/07/2007
11/20/2007
10/31/2007
10/16/2007
10/03/2007
09/18/2007
08/24/2007
07/27/2007
06/19/2007
06/01/2007
05/16/2007
05/02/2007
04/17/2007
04/07/2007
03/15/2007
02/20/2007
01/31/2007
01/12/2007
12/28/2006
12/18/2006
11/28/2006
11/26/2006
11/03/2006
10/20/2006
09/29/2006
09/14/2006
08/31/2006
06/21/2006
05/31/2006
05/16/2006
04/21/2006
03/31/2006
03/17/2006
03/06/2006
02/16/2006
01/31/2006
07/28/2006
12/29/2005
12/19/2005
11/30/2005
11/18/2005
10/31/2005
10/21/2005
09/30/2005
09/19/2005
08/31/2005
06/30/2005
05/31/2005
05/13/2005
04/29/2005
04/15/2005
03/04/2005
02/18/2005
01/28/2005
01/07/2005
07/29/2005
12/20/2004
12/12/2004
12/03/2004
11/19/2004
11/05/2004
10/22/2004
10/08/2004
09/20/2004
08/10/2004
07/20/2004
06/30/2004
06/11/2004
06/01/2004
05/21/2004
04/30/2004
04/20/2004
03/18/2004
03/02/2004
02/13/2004
01/30/2004
01/19/2004
12/31/2003
11/26/2003
11/14/2003
10/24/2003
10/11/2003
09/23/2003
07/31/2003
07/20/2003
06/20/2003
06/05/2003
05/16/2003
04/18/2003
03/31/2003
03/21/2003
02/28/2003
02/13/2003
01/31/2003
12/13/2002
11/14/2002
11/14/2002
10/31/2002
10/11/2002
09/25/2002
08/30/2002
08/16/2002
08/02/2002
07/12/2002
06/22/2002
05/17/2002
04/30/2002
04/19/2002
03/26/2002
03/08/2002
02/18/2002
01/23/2002
01/10/2002
12/11/2001
11/30/2001
10/31/2001
10/10/2001
09/20/2001
08/31/2001
08/17/2001
08/01/2001
07/12/2001
06/28/2001
05/31/2001
05/11/2001
04/30/2001
03/30/2001
03/14/2001
02/13/2001
01/25/2001
01/10/2001
06/19/2001
12/22/2000
12/08/2000
11/27/2000
11/08/2000
10/23/2000
10/05/2000
09/22/2000
09/01/2000
08/18/2000
07/10/2000
06/19/2000
06/02/2000
05/15/2000
05/03/2000