CNBNews

The big dogs of NJ government gathered at Secaucus Junction on Wednesday to call on the federal government to sign off on the Portal Bridge rail project, a replacement for the aging rail bridge that frequently causes delays and slowdowns for NJ commuters. Gov. Phil Murphy, along with several prominent NJ Democrats, said the state is ready to put up $600 million to replace the 109-year-old bridge, which often fails to close and literally requires a man with a sledgehammer to "come out and knock the rail into alignment," according to Jerry Zaro, chairman of the Gateway Program Development Corp. (NJTV)

NJ Senate president Steve Sweeney says the state is in worse financial shape than it seems, and that credit-ratings companies may be underestimating just how bad things are. "We are in worse shape than Illinois," Sweeney said in an interview. "We are not investing in education, we are not investing in the areas that we want because all the money is going to pensions and health care." New Jersey notoriously failed to set aside enough money for years to cover the $212 billion of benefits promised to NJ workers. (Bloomberg)

For the first time in two years, New Jerseyans will pay the same tax when they go to fill up at the pump. Gov. Murphy announced yesterday that the gas tax will remain at 41.4 cents per gallon of unleaded and 48.4 cents per gallon of diesel. The rate is holding because the state sold as much or more gas this year as it did last year. The gas tax fuels the state's Transportation Trust Fund, which pays for road and rail projects across the state. (NJ.com)