In their most recent debate, both Douglas Forrester and Jon Corzine said that, if elected governor of New Jersey, they would not lease the NJ Turnpike to a private operator. 

   The debate moderator asked each candidate whether they would raise the state gasoline tax or consider leasing out the Turnpike to a private concern (presumably in return for a large up front payment) in order to replenish New Jersey’s dwindling transportation funds.  Forrester and Corzine have both already said they would not increase the gas tax.  Corzine replied “to sell or lease the Turnpike or Garden State Parkway, no. Selling something to buy something else is a good idea.  Selling something to balance a budget is a bad one.” Corzine said he would “securitize” toll road revenues—presumably borrowing more heavily against tolls.  It is unclear that anyone in the debate or the broader public knew what the Senator meant, however.

   Forrester tried to move the discussion to the theme of government corruption, saying he opposed selling or leasing the toll roads the Turnpike or Parkway because “the cast of characters that Jon Corzine supports in Trenton” would waste the money.

   Forrester asserted that “We need to put the trust back into the Trust Fund to make sure we have money for the roads to be good pathways for the economy.” But he has continually declined to identify any real source of new money for transportation, which every analysis of the state’s financing predicament identifies as absolutely essential. 

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