To lease or not to lease? That is the question state officials have to answer about the New Jersey Turnpike.

Some say leasing one of the state?s busiest highways to a private investor might be the answer to New Jersey?s biggest problem. In Governor Jon Corzine?s (D-NJ) budget speech, he said, ?We all have a vision for a brighter New Jersey. Today, we can?t afford the investments to make that vision a reality.? Corzine was referring to the state?s more than $30 billion debt. Corzine has suggested paying off some of that debt by using the Turnpike to generate cold cash.

Though the governor hasn?t released his official plan, officials say the idea is to get a private investor to pay billions up front for the Turnpike. The investor would then run the road and keep the toll money. Supporters of the plan say similar deals are already in place in Illinois and Indiana.

Senator Ray Lesniak (D-District 20) says his proposed bill would let the governor lease the Turnpike to a private company for up to 50 years.

?We can?t increase taxes. Taxes are too high in New Jersey as it is. And we certainly can?t borrow any more. So we have to look at innovative ways,? said Lesniak.

Opponents of the idea fear drivers may suffer if the Turnpike is leased. Many say a private company might cut corners on road maintenance and would be more likely to raise tolls. Others say in the wake of 9/11, privatizing the Turnpike could be dangerous if leased to a foreign company.

Lesniak says his bill would limit toll increases to the rate of inflation. Corzine adds that he won?t approve any deal unless drivers are protected. ?I couldn?t be more explicit. We have to have controls over pricing, ie. tolls. We have to have some control with how the governance of the place works,? said Corzine

For extended interviews from Senator Lesniak and Assemblyman John Wisniewski (D-District 19) about possibly leasing the Turnpike, go to channel 612 on your iO digital cable box and select iO extra.