The state of New Jersey is considering selling the New Jersey Turnpike.

The state’s transportation fund is strapped for cash and $800 million is needed by July 1, 2006, to pay for transportation projects.

Acting Gov. Richard Codey and namely, Democratic U.S. Senator Jon Corzine – the frontrunner for New Jersey’s gubernatorial race – are considering a sale that could net New Jersey several billion dollars.

The governor notes that Chicago made nearly $2 billion when it leased the city’s Skyway Bridge to a private contractor.

Critic, Douglas Forrester – the Republican candidate for governor – calls selling the Turnpike “crazy” – saying lawmakers would squander the profits.