23-cents-per gallon gas tax hike takes effect Nov. 1
New Jersey’s low gas prices are about to get more expensive after Republican Gov. Chris Christie on Friday signed legislation raising the gas tax by 23 cents per gallon, from the 49th highest in the nation to the sixth, to pay for an expired transportation trust fund.
The gas tax, though, is still lower than the gas tax in neighboring New York and Pennsylvania. The hike is set to go into effect Nov. 1.
Christie also rescinded an order that shut down transportation projects in the state. He first issued the order when the transportation trust fund expired months ago.
The legislation signed by Christie raises the gas tax from 14.5 cents per gallon to 37.5 cents per gallon while cutting the sales and estate taxes. It also offers tax credits to veterans and for poorer residents.