Sen. Paul Sarlo, chair of the Senate Budget and Appropriations Committee, said there is little chance of a state gas tax increase being adopted before the November elections. "With all 80 (Assembly) seats up for reelection, nobody wants to talk about a gas tax," Sarlo told New Jersey Chamber of Commerce members during a breakfast roundtable in Monroe on April 28.

Sarlo, a Democrat, said he and Sen. Steven Oroho, a Republican who also participated in the breakfast event, are co-sponsoring a bill that would raise the gas tax while lowering the estate tax. Sarlo said the bill can be tackled during the lame duck session - the period in November and December between the elections and the start of the new legislative session.

"I don't think people are worried about raising the gas tax," Sarlo said. "They are worried about politicians spending it on other things. It needs to be dedicated to transportation projects. And nothing else."

Sarlo did caution that Gov. Christie would be hesitant to sign legislation raising the gas tax if he is running for president. Neither legislator addressed the prospect of the Legislature overriding such a veto.

The state's Transportation Trust Fund (TTF), which funds projects to maintain the state's highways, bridges and mass transportation, has been a hot topic in Trenton. It is on life support, relying on borrowed money while lawmakers on both sides of the aisle have said it is imperative to replenish the fund.

"The (Transportation Trust) Fund is broke," Sarlo said, and it's not helping business attraction and retention.

"To attract business, the state needs a strong transportation network," he added. "We need to get our heads out of the sand. I don't know any other way than finding a dedicated revenue source."

Oroho referred to a recently introduced package of bills that the Legislature should consider to help New Jersey get on a path to economic growth.

He agreed with Sarlo that executives considering moving their companies to New Jersey or expanding here need to sense a strong infrastructure and a welcoming tax environment. If they don't, they will simply go elsewhere. "Capital is like water," Oroho said. "It follows the path of least resistance to success."

A special thank you to UPS for sponsoring the event.