But senators did approve key amendments that advanced Christie's plan, voting 23-10.
Other senators said the delay would allow them to more closely review the legislation, which was delivered early Wednesday, and hear input from their constituents. Paul Sarlo and Republican Sen. Pennsylvanians pays an average $2.35 per gallon, including the state's 51.4-cent tax per gallon.
Supporters described Wednesday's events in the Senate as a minor setback and predicted that the transportation plan would pass easily on Friday.
"We lived to fight another day".
"When you get in these jobs, you have to do what's right".
State officials said they don't have enough money to do critical infrastructure projects. We'll be back at square one. A tax deal that robs the state of needed revenue to carry out its most basic functions, like patrolling highways and educating children, exposes New Jersey to another round of credit downgrades.
The first step was an emergency vote in the Senate. He and Prieto reached a deal, but it was rejected by the Senate, which never voted on it.
Asian markets down on China trade data, U.S. rate talk
Bank of America fell 28 cents, or 1.7 percent, to $15.76 and Bank of New York Mellon skidded $1.15, or 2.9 percent, to $38.96. The S&P/TSX Composite recovered 69.37 points to conclude Wednesday at 14,618.97, with December futures off 0.3% Thursday.
Nine percent of the tax cuts are tied to exempting retirement income from taxes for couples with incomes of $100,000 or less, or single people with incomes under $75,000. And in the Assembly, only a simple majority would be required for final passage.
"The Assembly is rock-solid", Greenwald said. We had the votes; the amendments passed. But it had support from labor and business groups, including the Chamber of Commerce. The proposal comes for a vote three months after the state's transportation trust fund expired and amid a shutdown of transportation projects ordered by Christie.
The vote has been a highly controversial one for New Jersey residents, many of whom have to commute to NY and Philadelphia for work. "Hopefully these people will stay and continue to invest in New Jersey".
New Jersey's gas tax, one of the lowest in the country, has not been raised since 1988. That would mean lowering or raising the tax as needed to reflect any increase or decrease in gasoline prices. As it is, the budget can not finance all the school and pension costs mandated by law.
On the other end of the political spectrum, New Jersey Policy Perspective president Gordon MacInnes called the deal "absolutely toxic to New Jersey's future". "Billionaires get tax breaks and everyone else sold out".
Lawmakers say the increase will finance an eight-year, $16 billion Transportation Trust Fund, which pays for road, bridge and rail projects across the state. In the past, the transportation fund has been supported by $1.6 billion yearly allocation.
The only state with a lower gas tax than New Jersey is Alaska, according to the American Petroleum Institute.