New Jersey residents might see an increase in toll prices coming soon.
The New Jersey Turnpike Authority recently passed a $2.62 billion budget for 2024, which Governor Murphy says he plans to sign off on. The new budget includes a three percent toll hike on the Garden State Parkway and New Jersey Turnpike.
Back in October, Murphy vetoed the toll hike, citing a need for more information on the budget. However, today, his tune has changed, despite the budget being nearly identical to the one vetoed in October. It is assumed that the Governor needed more time to make an informed decision on the matter. Murphy says the new budget prioritizes the safety of commuters and residents—the main reason for his approval.
Proponents of the bill state that increased tolls will go right back into infrastructure, creating safer conditions and more accessible roadways for all residents. However, State Minority Leader Anthony Bucco (R) is not so convinced, calling the toll hike the “latest broken promise” by Murphy and Democrats.
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When Does the NJ Toll Hike Take Effect?
There is no set date yet for the toll increase on the Garden State Parkway (GSP) and New Jersey Turnpike, however, NJ residents and commuters can expect to see the hike go into place later this year.
The average GSP commuter will see a five cent increase per trip—a negligible difference, but one that indeed adds up over the course of the year. Assuming the average person goes to work 260 days a year, driving both ways, that’s $26 extra dollars on tolls for the GSP alone. On the Turnpike, the fare is increasing by 15 cents—an even larger increase.
The approval of this new budget comes just one week following NJ Transit’s announcement of plans to increase fares by as much as 15 percent starting in July.
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