Radio Free Montone: Where Did All The Money Go, NJ?
By John Montone, 1010 WINS
Where did all the money go? That's what New Jersey drivers want to know.
New Jersey's Transportation Trust Fund was created in 1984. Its purpose was to pay for the upkeep of the state's roads and bridges. Every year it received $365 million -- that's $1 million a day, Dr. Evil. The money came from tolls on the Turnpike and Parkway, fees charged to truckers, a couple of cents from a tax on gasoline and the state treasury kicked in its share. Former Governor Kean called it, "a miracle."
A "miracle" with a short shelf life.
For the past 15-years legislative leaders and Governors have been pronouncing the fund dead -- then borrowing money to revive it. Now most of the money in the fund goes not to repair pockmarked roads or crumbling bridges, but to pay back bondholders.
Which brings us to a AAA survey that found 60% of New Jersey drivers saying the state's roads and bridges are in bad shape. Congested and corroding. But when I asked them on 1010 WINS radio if they'd be willing to pay a higher gasoline tax to fix them, most said "no" and most wanted to know, where did all the money go?
Near as I can figure lawmakers looked at the original $365-million, not as a stable source of revenue to keep the state's transportation infrastructure in tip top shape, but as a piggy bank that they couldn't keep their greedy little hands off.
Look, there's Assemblyman Bob shaking the piggy for money to fix that county road. And who gets the contract? Maybe Bob's nephew's paving company. And maybe Bob's nephew is so thrilled to be able to feed his growing family that he kicks back…I mean…donates some money to Uncle Bob's campaign to unseat Senator Felix…who will fend off Assemblyman Bob's challenge by buying mud-slinging campaign commercials paid for in part by a kickback…I mean donation… from his cousin Vinny's bridge demolition firm.
And now a new group of Assemblyman Bobs and Senator Felixes are looking at New Jersey drivers and explaining why just paying just a few cents more per gallon of gas is a powerful investment in their state's future.
But what they are really saying is, "Suckers!"
