NJ Assembly Advances Transportation Borrowing Bill

Law360, New York (June 22, 2012, 7:55 PM EDT) -- A New Jersey Assembly panel on Thursday begrudgingly cleared legislation to increase borrowing for transportation projects in the state, with lawmakers worrying about the resulting debt but stressing the importance of funding such infrastructure work and creating jobs.

“This is a bill that has both bad and good. The good far outweighs the bad,” Assemblyman John S. Wisniewski told the Assembly Budget Committee, which advanced the legislation in a 10-2 vote.

Authorizing nearly $1.25 billion in bonding to fund the upcoming fiscal year of the state's...
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