Business Leaders, Economists Warn of Economic Harm to NJ From Transportation Trust Fund Impasse

Joel Naroff, president, Naroff Economic Advisors (Steve Lubetkin Photo/StateBroadcastNews.com)

TRENTON, NJ—The impasse between the state’s legislature and governor over implementation of a higher gas tax to fund the state’s insolvent Transportation Trust Fund will have serious implications for business development and economic growth in the Garden State if it is not resolved quickly, according to several business leaders and economists who spoke exclusively with GlobeSt.com.

Michael McGuinness, Executive Director, NJ NAIOP

“It’s just very frustrating at this eleventh hour that we’re having these poorly thought-out, not well-articulated proposals being shared,” says Michael McGuinness, executive director of the New Jersey Chapter of NAIOP. “I just think that whole system is not very effective for producing sound public policy, especially as it relates to something as near and dear to our economy as a stable, healthy transportation system.”