Page 6 - midJersey Business - April 2015

{ MIDJerseyChamber.org }

President’s

Message

NJ ECONOMY DEPENDENT ON

STABLE, EFFICIENT TRANSPORTATION

ew Jersey’s Transportation Trust Fund soon will reach insolvency if it does

not gain proper attention from our state oicials. When the fund depletes

entirely in about four months, the state will no longer be able to subsidize
crucial transportation projects and repairs. It is estimated that the state

government will need $20 billion over the next 10 years to stabilize its
infrastructure and improve the mass transit system.
N
The need for the Transportation Trust Fund is immense because New Jersey’s transit
network facilitates the shipment of nearly $500 billion in goods annually. Additional in-

vestments into infrastructure would increase the amount of goods coming through New
Jersey ports between 12-15 percent. The Transportation Trust Fund also would invest

into improving New Jersey’s mass transit deiciencies. New Jersey has the third larg-
est transit system in the country. Nearly 11 percent of the state’s workforce uses public

transportation in their daily work travels. Many consider the current
stature of New Jersey’s mass transit to be outdated and ineicient.

Many roads and bridges are in an unsafe condition, and New
The need for the Transportation
Jersey’s mass transit needs a substantial overhaul. A recent poll con-

Trust Fund is immense because
ducted by the American Society of Civil Engineers found that almost

New Jersey’s transit network
44 percent of New Jersey’s public roads were considered to be in fair
or poor condition. In the future, New Jersey will need to invest heavily
facilitates the shipment of nearly
$500 billion in goods annually.
into infrastructure and our mass transit system to give sustenance
to the state’s economy. The New Jersey economy is dependent upon

stable and eicient transportation to operate at its peak potential.
In order to raise the necessary money, New Jersey lawmakers have proposed raising the gas tax. New

Jersey has the second lowest gas tax in the country, and it has not been raised in nearly two decades. A gas
tax increase would be a possible revenue stream for the Transportation Trust Fund and something that

business owners and consumers should consider due to the state of our infrastructure and roadways. The
MIDJersey Chamber is part of a broad coalition of New Jersey chambers and labor and business groups

advocating for the renewal of the Transportation Trust Fund. It’s hard to imagine that any solution to the
transportation needs of our state will be met without the gas tax being at least part of the plan.

Robert D. Prunetti
President + CEO

Robert@MIDJerseyChamber.org

business.com
4 midJersey