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Bad Credit Credit Creditres A proposed $150 million environmental impact fee on petrochemical companies will not be charged if it will raise prices at New Jersey gasoline pumps, state Treasurer John McCormac told lawmakers yesterday.

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Bad Consolidation Credit Debt The administration has consistently denied criticisms that the new fee is really a gasoline tax increase in disguise since Gov. James E. McGreevey proposed it in his budget message in February.

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Bad Company Credit Repair Yesterday, addressing the Senate Budget Committee, McCormac went a step further, saying the proposed fee would be scuttled if it has the effect of increasing in-state gasoline prices.

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Bad Card Credit Credit "This fee will not be charged if there's no way to assure it will not affect people at the pump," McCormac said. "It will not go through to the pump -- absolutely not."

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Bad Car Credit Loan McCormac said the administration believes the new fee can be imposed in a way that it would only affect the prices of petrochemical products sold in other states. The state Attorney General's Office is working out the details, he added.

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Bad Credit Loan Mortgage Last December, McGreevey rejected a proposal to fund transportation projects and eliminate tolls on the Garden State Parkway by more than doubling the state's gasoline tax, from 10.5 cents to 23 cents per gallon. The proposal came from a blue ribbon commission the governor appointed to study the state's transportation needs.

Auto Bad Credit Loan "There are simply too many families struggling too hard to pay the bills and take care of their loved ones," McGreevey said then. "I will not increase their burden."

Bad Credit Mortgage Refinance But when a petrochemical environmental impact fee projected to raise $150 million showed up in the budget the governor presented to the Legislature in February, it drew criticism that it was really a stealth tax on gasoline.

Bad Credit Refinance McCormac insisted again yesterday that it is not. He said New Jersey is host to a number of petrochemical producers that sell most of their products out of state but create pollution here. The impact fee is intended to "gather the revenue from out-of-state consumers" to pay for that pollution, he said.

Bad Credit Mortgage Second The budget committee also heard yesterday from a pair of Rutgers University economists who said New Jersey has fared better than the nation as a whole during the recent economic downturn and rebound.

Bad Credit Loan Student Since that downturn began in March 2001, New Jersey has replaced 60 percent of the jobs lost, while the nation as a whole has regained only 14 percent of lost jobs, James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers, told the committee.

Bad Card Credit Joseph Seneca, a professor at the school and chairman of the Council of New Jersey Economic Advisers, said the state economy faces its "best year since 2000" thanks to high consumer spending and low interest rates.

Bad Credit Financing But they told the committee that good news is tempered by the national economic trend of companies increasing productivity while hiring fewer workers.

Bad Credit Home Loan Mortgage Hughes said concern over outsourcing of jobs "right now is more hysteria than fact.

Bad Credit Loan People "The information superhighway provided a freeway to ship white-collar jobs overseas," Hughes said. "The law of unintended consequences struck again."

Bad Card Credit Credit People By Robert Schwaneberg
Star-Ledger - 4/1/2004

Topic: Petroleum Industry

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