The Turnpike Authority board is eyeing three toll increases that would start taking effect next year.

Under the board's proposal, a 50 percent increase to tolls would take in 2009. Then, in 2012, tolls would be hiked an additional 50 percent. The plan also calls for a 10 percent increase in 2023.

"Our goal and our commitment to the motoring public is that we provide a safe and efficient road, and that costs money," says Kris Kollun, transportation commissioner.

According to the authority, the $10 billion raised from the hikes will pay for necessary repairs on the Garden State Parkway and the New Jersey Turnpike. The funds will also be put toward widening stretches of the highway.

Three public hearings have been scheduled for residents to voice their opinions on the possible hikes. The hearings will start taking place in two weeks.

For the DOT commissioner's toll hike press conference, go to channel 612 on your iO digital cable box and select iO Extra.