NJ hiking gas tax by 4.3 cents a gallon to 41.4 cents

August 31, 2018 - 7:41 am

TRENTON, N.J. (1010 WINS/AP) -- One of the more appealing things about New Jersey used to be low gas taxes.

But now, the Garden State is well on its way to have some of the highest gas taxes in the nation.

Gov. Phil Murphy's administration says it's hiking the state's gas tax by 4.3 cents a gallon -- over 10 percent -- under a bipartisan law enacted under his predecessor, Chris Christie. 
The Democratic administration says the 41.4 cent-per-gallon rate is the result of a requirement under the 2016 law. 
It calls for a steady revenue stream to support the $2 billion a year fund for road and bridge work.
It's the second time since 2016 the gas tax has gone up.
Before that the rate hadn't escalated in three decades.
Figures from the conservative-leaning Tax Foundation show that the change means New Jersey will go from the eighth-highest gas tax in the country to the fifth.
Murphy's Treasury Department says Christie overestimated fuel consumption last year, failing to raise the rate 1.7 cents.