NJ Turnpike, Parkway Tolls Won't Increase In 2020: Here's Why

Highway officials have made a decision on toll hikes in New Jersey: There won't be any.

The New Jersey Turnpike Authority, which operates the Garden State Parkway and Turnpike, approved a $1.8 billion budget Tuesday that doesn't include a toll increases for either highway, spokesman Tom Feeney told Patch.

Turnpike officials said there will be no hikes because of added toll revenue from a projected increase in traffic in 2020.

"Based upon toll revenue projections by our (traffic) consultant, revenues are sufficient to satisfy our bond covenants and board policies,” Donna Manuelli, Turnpike Authority chief financial officer, was quoted as saying on nj.com.

If revenues weren't sufficient to pay off the debt, according to nj.com, an automatic toll increase would have gone into effect.

This will be the eighth year in a row without a toll increase. The Port Authority, meanwhile, has approved toll hikes at its bridges and tunnels. Read more: Yikes, Hikes? Fares And Tolls May Increase For NJ Commuters

Some lawmakers — including the Murphy administration — have looked at possibly restructuring toll rates as a way to fix the state's budget woes. Read more: Big Changes To NJ Tolls, Roads Possible To Fix Budget Woes

Toll revenues are projected to increase 1.8 percent on the Turnpike and 1.4 percent on the parkway next year. So far, during the first nine months of 2019, traffic is up on both toll roads by 2.6 percent.