Trump's infrastructure jobs need state matching funds
You know that it is over for the nattering nabobs of negativism when all they have are lies and disinformation.
Take this post put up over the weekend on a Tea Party website:
FACT #1: We are paying less for gasoline now than what we paid 18 months ago. Costs have declined dramatically from 2014. Here is the graph that proves it:
FACT #2: The Tax Reform bill (S-2411/A-12) actually cut taxes by $1.4 billion:
- A tax cut on retirement income that means most New Jersey retirees will no longer pay state income tax. This tax cut is worth about $2,000 annually to the average retiree.
- Elimination of the Estate Tax. This protects family farms and small businesses from being forced to choose between paying taxes or closing and laying-off workers.
- Tax cut for veterans. Honorably discharged active duty, guard, and reserve veterans now get an additional $3,000 personal income tax deduction.
- Tax credit for low-income workers. Worth $100 annually to the average worker.
- Sales tax cut. Worth another $100 annually to the average consumer.
- Property tax relief. The legislation doubled the amount going to county and municipal governments to repair roads and bridges and so offset property tax increases.
After 28 years of failing to adjust the gas tax for inflation and borrowing to make up the difference the TTF was deeply in debt. The last time the gas tax produced enough revenue to pay for New Jersey's transportation needs was in 1990. Because of the debt that was allowed to accumulate, by 2015 the annual cost of that debt to taxpayers was $1.1 billion -- outstripping the $750 million revenue from the gas tax. That's what happens when you suspend the iron rules of economics and tell people that they can have something for nothing.
The Transportation Trust Fund was broke. Road and bridge projects funded by the TTF were frozen. That included all those county and municipal projects dependent on TTF funding. Work had stopped. Without funding from the TTF, local governments would have had to raise property taxes by an average of more than $500 a household just to make up for the lost aid to keep county and local roads safely maintained. And if county and local governments failed to repair roads and bridges and allowed people to use them anyway, the eventual cost in litigation to cover the injuries sustained as the result could vastly outstrip the costs to maintain them in the first place.
So yes, under these circumstances, the long over-due adjustment for inflation did result in the tax on gasoline going up by 23-cents a gallon.
FACT #3: President Ronald Reagan doubled the federal tax on gasoline because, as a conservative, he understood that a user tax (like the gas tax) is the fairest form of taxation. Ronald Reagan, the greatest Republican President of the last century, the father of the modern conservative movement.
FACT #4: President Donald Trump is right. America's infrastructure is a disgrace and New Jersey's transportation infrastructure is among the worst.
The American Society of Civil Engineers issued a report in 2016 and we've taken snapshots directly from it:
Now that is what the professionals -- the best in their field -- had to say.
Today, under the leadership of President Donald Trump, America is on the cusp of a huge boom in federal spending on infrastructure. Twenty states are in the process of raising their tax on gasoline so that they have the matching funds available to participate in the federal projects coming our way. New Jersey is, for once, ahead of many of the others.
President Trump's plan is to spend a trillion dollars creating over a hundred thousand new jobs and billions in related economic activity.
Some, like the fellow who posted the negative comments above, already have nice, comfortable jobs with the state, a nice pension and benefits. But others are not as fortunate. President Trump's plan is going to mean the chance at a future for them.