New Jersey continues to rate as one of the most indebted states in the country, with the Transportation Trust Fund considered the most pressing concern according to a State of New Jersey: Debt Report released Feb. 26 by the Office of Public Finance of the State of New Jersey and reported by NJ Spotlight.
The report reiterates recent statements by lawmakers and the department of transportation that, as of June 30, New Jersey will only be able to continue funding older transportation projects and the bond debt that financed them. Further bonding is unavailable unless the state raises the fund’s debt ceiling (reached in December 2015). Leaders are advocating for an increase in transportation revenue in order to raise the debt ceiling.