That'll fund the Transportation Trust Fund (TTF) that's been bankrupt since August but it digs a 1.6 billion hole in the state budget over a few years. They say it takes NJ from the 2nd cheapest gas tax to the 7th highest but still less than PA, NY and CT. Sales tax gets progressively cut a few 10ths of a cent, estate tax progressively eliminated, I think there's a 5 fold reduction on pension taxes, and a special deduction for veterans. One legislator from Woodn'Coal's corner of the state calls it a retention plan saying it'll keep pensioners and rich people from leaving
Christie and the legislature have been dragging their feet about this for a while on this. I think the gov even borrowed 3 billion for the TTF. More debt. Seems funny he signed it days after the train wreck in Hoboken that killed 1 and injured ~100 people. That commuter line was given a waver on the PTC system other rail lines are using to stop similar crashes. They didn't have the money, like most of us.