Just when New Jersey drivers are getting a bit of a break on gas prices, they’ll have to get ready to shell out more money for tolls on the New Jersey Turnpike and Garden State Parkway. The New Jersey Turnpike Authority, which runs both toll roads, approved a new budget Tuesday that will increase tolls by 3% come January. A spokesman for the authority said the average turnpike toll for passenger cars will increase from $4.95 to $5.10. It will be the third straight year that tolls are going up.
A new report Tuesday shows that home prices were up 13% nationally in August compared to a year ago. That might sound like good news, but according to the S&P CoreLogic Case Shiller index, year-over-year gains in housing prices peaked in spring and have been declining over the last five months. According to the index, August marked the biggest deceleration in home price gains on record. Another report Tuesday shows consumer confidence fell in October due to inflation concerns, reversing recent gains.
Newark airport’s often crowded terminals and aging monorail system will be getting a refresh. The Port Authority selected Arup, a global aviation design firm, to oversee future planning for the airport. Working with architecture firm Skidmore, Owings & Merrill, Arup will serve as the redesign’s master planner, developing a strategy for Newark to handle an expected increase in passenger and cargo traffic.
New Jersey’s small business owners could have an easier time getting loans under a bill introduced by Rep. Andy Kim (D-3rd). The legislation incentivizes community banks to lend by easing their tax burden. Kim said he believes this would also help minority businesses, which often face difficulties getting credit.
