Monday, October 31, 2016

Vote “NO” on Question 2 - Stop Endless Debt, Kill the Bill

Vote “NO”
on Question 2
Stop Endless Debt, Kill the Bill

October 31, 2016

It is a rare day that the public is given a chance to stop irresponsible, unaccountable legislators. 

But this day has arrived and we ask that media make it their responsibility to inform the public properly.  A “NO” vote kills the $12,000,000 [billion] generational debt burden of the new gas tax law.  A “NO” vote requires that legislating return to normal – each debt funded project will receive public oversight and a full, prudent legislative process as to its merits.

The gas tax vote taken on October 7 has not been properly explained to the public.  A review now requires a no vote on Ballot Question #2, which will prevent only "Bond Debt" that requires a constitutional guarantee.

The bonding addresses huge, extravagant new projects for the Transportation Trust Fund which are not for road construction, but are for massive mass transit projects of minimal value.  

Also hidden is the diversion of toll revenues and taxation cash flows.  The gas tax was raised from 14.5 to 37.5 cents/g (160%), but revenues are to only trickle up from $1.6B to $2B. If a lock-box is wanted for TTF funding, return the diverted funds.

Hidden too are that massive, undefined, debt funded, tax and spend activities will be directed not by the legislature, but by a four-person board.  The people of New Jersey are being assigned huge debt loads and those responsible for the spending are now not to be elected by the people.

However, all this can all now be corrected. The gas tax increase law had an Achilles heel.  It requires the debt to be constitutionally guaranteed.  Vote “NO” on Question 2, November 8, and the gas tax increase charade falls apart.  Roads will continue to receive funding, but generational indentured servitude is avoided by ending wasteful, poorly vetted mass transit projects.

New Jersey Taxpayers’ Association  |   PO Box 78, Landing, NJ 07850