N.J. weighs new way to pay for roads
Source: By Tom Hester Jr., Associated Press, January 27, 2008
Highways built by U.S. taxpayers are being leased to foreign-owned companies by cash-starved states, but New Jersey is weighing another approach amid worry such deals mean states lose control of crucial highways and potential profits.
New Jersey Gov. Jon S. Corzine has rejected the traditional highway leases other states and cities are employing to raise billions of dollars to fund transportation projects.
Rather, the Democratic governor who once led Goldman Sachs has proposed creating a non-profit corporation to manage toll roads and issue bonds paid back by increasing tolls on some of the nation's busiest highways.