New Jersey drivers will soon find out if their gas taxes will increase. Right now, New Jersey’s gas tax is over 42 cents per gallon. State law requires Treasury officials to conduct a yearly analysis of whether gas tax revenues are adequate to support the state’s Transportation Trust Fund, which pays for various transportation projects. The new gas tax rate must be announced by late August and then goes into effect on Oct. 1. Read more about it here.
New Jersey will receive $9.5 million from ExxonMobil as part of a pollution-related lawsuit settlement. The state’s lawsuit, filed in 2019, centered on the company’s dumping of industrial contaminants on a 12-acres site it owned in Gloucester County, starting in the 1950s. The property sits in a tidal area and the pollutants made their way into waterways and wetlands, according to the state. Even after remediation, the state found the presence of PCBs in the area — hazardous chemicals that are known to cause health risks.
New U.S. home construction fell sharply in July, down 9.6% compared to a year ago and more home sales contracts are being canceled as potential buyers walk away from properties. The real estate firm Redfin, says of the homes that went under contract last month, more than 16% of the deals fell through. That’s the highest percentage on record, with the exception of spring 2020 early in the pandemic. According to Redfin, higher mortgage rates are sidelining prospective buyers.
The Federal Aviation Administration says things are back to normal at Newark airport after a rough Monday for travelers. Staffing shortages forced the FAA to reduce flights around Newark as well as JFK and LaGuardia airports, resulting in delays of up to two hours for some flights. The FAA implied that the staffing shortage involved its air-traffic controllers but did not specify which employees were out.
