A pair of transportation-related bills sponsored by Senator Steven Oroho (R-24) that would substantively reduce the burden on property taxpayers has been approved by the Senate Budget & Appropriations Committee.
The first bill, S3076, appropriates $400 million from the Transportation Trust Fund (TTF) to pay for immediate road and bridge repair projects across the state in all 21 counties.
“The tax reform plan that we approved last year has made it possible for the state to pay for many critical transportation projects in communities across New Jersey,” said Oroho. “Our new legislation builds on that effort by having the state augment its share of funding for local road and bridge repairs that would otherwise have been borne by residents through increased property taxes.”
Senator Oroho was instrumental in crafting last year’s Tax Reform and Restructuring Plan that coupled targeted tax cuts with a plan to take the Transportation Trust Fund (TTF) out of bankruptcy. The plan was nationally recognized by the Tax Foundation with its Outstanding Achievement in State Tax Reform award.
That plan called for the doubling of local transportation aid to counties and municipalities to help ease the property tax burden, as reflected through the new legislation.
The second bill, S2748, exempts fuel used for the operation of school buses from the state’s motor fuels tax.
“It doesn’t make sense for local governments to use the property taxes they collect from residents to pay other taxes to the state, which is why government vehicles like police cars, fire trucks and ambulances are currently exempt from the state gas tax,” added Oroho. “Since school districts also are funded by property taxpayers, school buses should be exempt from the gas tax as well. That’ll free up money that can better be spent in classrooms or lowering property tax bills.”