Will N.J.'s gas tax go up again soon?

Thursday, 14 September 2017, 04:34:17 AM. The law raising the gasoline tax 23-cents allows the state Treasurer to establish a new tax rate on Oct. 1 each year.
TRENTON -- Before last fall, New Jerseyans hadn't seen a change in the state taxes they pay on gasoline in 28 years. But the next new tax at the pump could hit much sooner. Come Oct. 1, New Jersey's gas tax will increase again, drop, or simply stay the same. The hard-fought law that raised gas prices 23 cents a gallon overnight in November includes a provision that the tax rate may be adjusted each October to ensure it drums up enough money for the Transportation Trust Fund. It's left to state officials to scrutinize how the tax performed over the past year compared to expectations and then to the treasurer to adjust the rate up or down. A spokesman for Treasurer Ford Scudder would not say whether Scudder had yet made that determination, but noted it is "under review." "Any adjustment to the 22.6 cent/gallon gas tax will be announced in advance of its effective date of Oct. 1," spokesman Willem Rijksen told NJ Advance Media. One industry expert says it's much more likely the tax surcharge will hold steady at 23 cents a gallon. Why gas prices will fall over the next month "I don't believe there will be any adjustments, because the volume of gasoline and diesel has kind of stayed steady and constant. And if that stayed constant, then the revenues should meet what the expectations were," said Sal Risalvato, executive director of the New Jersey Gasoline-Convenience-Automotive Association. The organization monitors weekly national consumption data, which has been stable, and...Read more
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