Law Provides $400 Million in Immediate Transportation Spending
(BORDENTOWN) - Legislation Assembly Speaker Vincent Prieto and Assemblywoman Valerie Vainieri Huttle sponsored to provide an immediate job and economic development infusion through $400 million in transportation improvement projects was signed into law on Monday.
The law (A98) appropriates $260 million to the Department of Transportation for the purposes of repairing roads and bridges in all 21 counties in the state. It also provides $140 million to NJ Transit for technology improvements and system safety.
The sponsors said the money will be expended in the first 100 days following enactment.
"This is all about jobs, invigorating our economy and public safety," said Prieto (D-Hudson/Bergen), who led the push last year for a renewed Transportation Trust Fund to rebuild the state's vital infrastructure. "We're going to see wide-ranging job and economic benefits for years to come from our new infrastructure improvement plan, but with this law we'll be getting an even earlier start than expected. That's good news for New Jersey commuters and laborers and our economy."
The $400 million comes from existing Transportation Trust Fund resources, and brings to $2 billion the amount expected to be spent on transportation projects before the end of next fiscal year.
"Our transportation infrastructure is the essence of our economy," said Vainieri Huttle (D-Bergen). "It creates jobs and economic development and improves our quality of life. The sooner we get working on this, the better it is for everyone."
"I look forward to putting New Jersey to work," Prieto added.