Moody’s gives gas tax plan ‘credit negative’ outlook

The credit rating agency says the plan to raise the gas tax by 23 cents could put a strain on the overall state budget.

The credit rating agency says the plan to raise the gas tax by 23 cents could put a strain on the overall state budget. (10/11/16)

EDISON - One of the top credit rating agencies says the plan to raise the gas tax by 23 cents could put a strain on the overall state budget.

Moody's gave the plan a ‘credit negative’ outlook saying the state's general fund could take a big hit.

The bill to raise the gas tax while cutting other taxes passed in the State House on Friday.

Gov. Chris Christie is expected to sign it.  

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