RUTHERFORD, N.J. – One of New Jersey's key transportation figures says more borrowing isn't the answer to the state's infrastructure funding problem.
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Assembly Transportation Committee chairman John Wisniewski told Meadowlands-area business leaders Tuesday that the state must identify a dedicated source of funding for the Transportation Trust Fund.
The fund is due to run out of money in June. Last week, Gov. Chris Christie said the state can use authorized but unissued bonds to pay for road, bridge and tunnel work and repair in fiscal year 2016.
Wisniewski says even though $600 million is available that way, bond attorneys say the trust fund has already been refinanced so often that the bonds' tax-exempt status could be threatened.
Transportation Department chief Jamie Fox was scheduled to appear at Tuesday's event but canceled.