Fleet Management

$3.8 Billion Transportation Bond Passed in N.J, Rejected by N.Y.

November 08, 2000

SHARING TOOLS        | Print Subscribe
New York voters rejected a $3.8 transportation bond issue Tuesday, but their New Jersey neighbors overwhelmingly approved a measure that will free up money for roads, bridges and transit
by redirecting existing taxes to a dedicated transportation fund.
According to the New York Times, the $3.8 billion measure approved in New Jersey dedicates hundreds of millions of dollars a year in sales taxes and taxes on wholesale petroleum products to state transportation projects over four years.
The measure rejected by N.Y. voters would have allowed the state to raise $3.8 billion through general obligation bonds, with $1.6 billion going to the Metropolitan Transportation Authority, which runs the city's mass transit systems. The measure would have also set aside an additional $1.9 billion for the state highway program, with the remaining $300 million for upstate transit systems, bridges and for other purposes, the article said.

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.



GotQuestions?

LUBRICANTS

The expert, Mark Betner from Citgo will answer your questions
Ask a question

Sponsored by

Magazine