fasda t1_ixaa424 wrote
Reply to comment by acoursen in NJ Turnpike Authority Transforms a Useless $4.4B Project into a Useless $10.7B Project by jimmybot
The money is from the people of NJ and run by our state. If the TA is profligate in their spending then they should have some of their money sent to others like NJ transit who could invest it more wisely.
acoursen t1_ixad17g wrote
Well the out of starters driving thru also contribute. All the toll money, train and bus passes don't go into one bucket to be freely shared. And if you think NJ Transit could manage the money better, then you are the only one.
fasda t1_ixaqevf wrote
and for causing traffic in our state they can subsidize our public transportation.
HobbitFoot t1_ixcjkeb wrote
They do now.
fasda t1_ixdi2er wrote
Are you sure? there doesn't seem to be a mention of it on their budget. Granted I only read the summary of the expenses.
HobbitFoot t1_ixdjyfi wrote
The 2022 Budget in Brief Page 13 has three lines: 2016 State Transportation Projects Funding Agreement, 2021 State Transportation Projects Funding Agreement, and Proposed Gateway Project Tunnel.
The transfers are large enough to be in the summary.
Alchohlica t1_ixabqsa wrote
I think I read somewhere the Fed won’t allow them to move their revenue to the state only allowing it for roads
jimmybot OP t1_ixaih91 wrote
NJTA doesn't receive Federal funding. In fact, a drop in the bucket when we're talking statewide line items, but NJTA is sending a few hundred million per year to NJTransit. The state is free to do as it pleases with NJTA revenue as long as it is able to make payments on its bonds.
Alchohlica t1_ixajtj8 wrote
Ah ok, I just remembered them saying they hey could sell bonds to like Arkansas or something for turnpikes
fasda t1_ixaeyce wrote
Can the TA invest their money in bonds? if they can have NJtransit issue bonds and then we are in business.
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