11/09/2016:
N.J. business community applauds TTF ballot question approval
On Tuesday, a majority of NJ residents voted to approve a ballot box measure that will dedicate all gas tax revenue to the state's TTF through a constitutional amendment. Despite vocal opposition from Lt. Gov. Kim Guadagno and others in recent weeks, the question garnered 54% support, outperforming the 46% of voters who opposed it. “The voters of New Jersey have taken a critical step,” said NJ Chamber of Commerce CEO and President Tom Bracken. “Tonight, they said loud and clear that they want their tax dollars to go exactly where they expect them to go. By approving this amendment, they have constitutionally committed billions of dollars over the next eight years to fix our roads, bridges and commuter trains. They've helped put NJ on the right track.” Bracken also chairs Forward NJ, a coalition of business groups that aimed to find a funding fix for the TTF. “Forward NJ came together to advocate for a long-term, sustainable, reliable and constitutionally dedicated source of funding for the TTF. That goal has now been achieved,” he said. “I want to commend the hard work and dedication of all our coalition members. For well over two years, they committed to working every day to ensuring NJ had the kind of solution it needed on the TTF."
 
11/08/2016:
Editorial -- HAHN: End self-service gas ban to help offset tax hike
Gas got a lot more expensive for NJ drivers who woke to a 23¢ per gallon increase in the gas tax on Nov. 1.  Is there a way to soften the blow for them, especially commuters who will likely pay on average $17-$22 more per month for small cars to $28-$55 more per month for larger vehicles? There sure is — ending the state’s ban on self-service gasoline. Unfortunately, politics and faulty economics stand in the way. Senate President Steve Sweeney, who controls what bills come to the Senate floor, said in August that he is against the ending the ban on self-service gasoline because “[t]he retailers are controlling the numbers. All you’re doing is increasing their profit. You won’t see the savings because it just disappears.” That is nothing short of flawed economic reasoning. Price savings are passed to consumers in highly competitive markets and the retail gasoline market in NJ has all of the required elements: a large number of stations owned by small businesses, transparency through posted prices and a homogeneous product. Moreover, apps like GasBuddy help consumers overcome informational barriers by allowing consumers to see prices beyond the particular roads they travel. The market for retail gasoline in NJ is about as competitive as one can get and ripe for cost savings to be passed on to consumers. If this tax increase does not cause Trenton to reconsider its ban on self-service gasoline, it is hard to imagine what will. Perhaps it is time to consider redress before the courts.
 
11/04/2016:
Will out-of-state drivers continue buying NJ gas? Big problem if they don’t...
NJ’s gas tax was raised 23¢ a gallon on November 1, but the tax could go up again next year if the amount of gas sold decreases. Some experts predict that is exactly what will happen. Siamack Shojai, the dean of the William Paterson University Cotsakos College of Business, said that before the gas tax hike, the price differential between NJ and NY was more than 40¢ a gallon, so drivers on the other side of the Hudson had a real incentive to come to the Garden State to fill up their tanks, especially those living outside NYC who could cross the Tappan Zee Bridge, where the toll is about $5. Traveling into NJ via the GW Bridge or going through the Lincoln or Holland tunnels costs $15, but Shojai said many New Yorkers were willing to make the trip if they drove a lot because ultimately they could still save a significant amount of money. Now, however, with the cost of gas up 23¢ a gallon in NJ, that’s no longer the case. He pointed out now the savings is in the 10 to 15-cent-a-gallon range, so “the fact that you have wear and tear on your car, you face a lot of traffic, it’s not that convenient.” Shojai noted if New Yorkers work in NJ or have to go through the Garden State on a regular basis to get to another location, they may make a point of stopping for gas here. He said some Pennsylvania residents may continue to fill up in NJ because it remains a bit cheaper here, about 10 to 15 cents-a-gallon compared to many locations near the Delaware River in Pennsylvania. But in certain areas, “gas prices in Pennsylvania may be even lower than in NJ now.”