New Jersey privatization bill expected Monday

| 2/5/2007

A state senator in New Jersey was expected to propose legislation Monday that would allow the state to privatize the New Jersey Turnpike, the Garden State Parkway and the Atlantic Expressway.

Sen. Raymond Lesniak, D-District 20, told The Associated Press the state can't raise taxes or raise its debt to pay for highways - so leasing them to private companies is the best solution.

Estimates of how much New Jersey would get up-front from the lease of the highways ranges from $15 billion to $30 billion.