December 12, 2005

STATEMENT OF THE HON. PETER A. CANTU, MAYOR,
PLAINSBORO TOWNSHIP AND CHAIR,
NJ LEAGUE OF MUNICIPALITIES’ TRANSPORTATION TRUST FUND
REAUTHORIZATION COMMITTEE,
IN SUPPORT OF A-3414
PRESENTED TO THE ASSEMBLY
TRANSPORTATION COMMITTEE
THURSDAY, DECEMBER 8, 2005

The League of Municipalities supports A-3414, which would begin to restore public confidence and, and restore the fiscal integrity of, the Transportation Trust Fund (TTF).

The Transportation Trust Fund was intended to provide a stable, reliable source of funding for "pay-as-you-go" transportation projects. But now, ever-increasing amounts of the fund's revenues are going for debt service, rather than paying for vital transportation maintenance and construction projects.

We salute the bi-partisan sponsorship of this initiative. And we thank Chairman Wisniewski, Assemblyman Biondi and Assemblywoman Stender for their leadership.

The provisions of this act would protect the future of the fund by limiting bonded indebtedness, and by putting a check on the ability of the Department of Transportation and the Legislature to exceed that limit. Further, it would maximize the amount used for needed road and rail work by eliminating, over a six-year period, expenditures, from the TTF, for salaries and overhead by the Department of Transportation and the New Jersey Transit Corporation.

Passage of A-3414 is an important first step for our State’s transportation future. We urge you to advance A-3414, and to continue to work together to renew and reinvigorate the Transportation Trust Fund.

CALLING FOR ACTION ON TRANSPORTATION TRUST FUND REAUTHORIZATION

DEAR MAYOR LETTER - TRANSPORTATION TRUST FUND