Monetization Preview

by: Hopeful

Sun Jan 06, 2008 at 12:39:13 AM EST

So here's what the Star Ledger is saying thanks to an anonymous official. He's talking about a large toll hike and spinning off the toll roads into a separate entity. Personally, I think the quotes below point pretty clearly to a scam, but what do you think?

When he goes before the Legislature on Tuesday, Gov. Jon Corzine will propose raising as much as $40 billion to pull the state back from the financial brink by asking motorists to tolerate higher tolls, according to a top administration official.

a plan that would borrow against toll increases to cut existing state debt in half

Corzine hopes to raise as much as $40 billion with his monetization plan, though the actual amount could be far less. The total depends largely on how the IRS views the technical language in the legislation that lays out the mechanics of a new Public Benefit Corporation (PBC).

Hopeful :: Monetization Preview

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Monetization Preview | 1 comments

toll increase 45+ % ? (4.00 / 1)

There is also an interesting article in today's NY Times -
link. Here's a brief quote:

"Fearing a backlash from voters, some New Jersey state legislators, including Assemblyman John S. Wisniewski, a Democrat of Middlesex County who is chairman of the powerful Transportation and Public Works Committee, have argued that raising the gasoline tax may distribute the burden more fairly.

Riders in eastern New Jersey, he said, rely on toll roads more than residents in the western part of the state, but everyone pays for gasoline. Besides, New Jersey's gas tax is the third lowest in the country and has not been increased in two decades."

by: jfc521 @ Sun Jan 06, 2008 at 22:28:01 PM UTC