Murphy to triple spending on NJ Transit, infrastructure

TRENTON, New Jersey (WABC) -- New Jersey Governor Phil Murphy announced Tuesday that the state will triple spending on New Jersey Transit and infrastructure.

This means an additional $242 million, or a 172 percent increase, in funding will go toward train and bus operations as well as filling staffing gaps.

Another $2 billion will support infrastructure repairs across New Jersey.

This announcement came as Murphy outlined his budget for the 2019 fiscal year. The budget includes appropriations totaling $37.4 billion and a projected surplus of $743 million.

Beyond transit, Murphy announced his budget will support education by expanding pre-K programs and pursuing tuition-free community college by 2021.

Murphy also said the budget prioritizes tax fairness by including a millionaire's tax and 28 percent increase in funding state pensions.

But with budget increases come new taxes. Sales tax is back up to 7 percent, tied for the second-highest rate among states and up from the current 6.625 percent.

New taxes are being proposed on rideshares like Uber and Lyft, home sharing sites like Airbnb, legal marijuana sales and investment profits.

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