Vincent Prieto

Gas taxes in New Jersey will probably be 23 cents a gallon higher by this time next week. The governor and legislative leaders agreed to that as well as cuts in sales and estate taxes.

Gov. Chris Christie met separately this week with both of the Legislature’s top Democrats, as the impasse that has shuttered state-funded transportation construction enters its third month.

Gov. Chris Christie rejects the Democrats' latest Transportation Trust Fund proposal, deeming the tax cuts as insufficient to green-light a gas-tax hike.

Lawmakers over the next seven days will make a bid to end a construction-funding impasse that has entered its fourth week and temporarily cost around 1,000 people or more their jobs.

A 23-cent per gallon hike of New Jersey's gas tax was approved early Tuesday morning by the Assembly, along with a reduction of the state's sales tax to 6 percent.

After waiting months for a Transportation Trust Fund replenishment plan, it appears there are now two. One includes a 23-cent a gallon hike in gas taxes.

Gov. Chris Christie signs the bills that help Atlantic City avoid bankruptcy but give the city five months to fix its finances. If it can't, the state takes over.

It will be challenging for city officials to identify the cuts needed within five months to balance their budget. Refinancing its debt would be a big help.

With Atlantic City on the verge of financial disaster, state leaders still can't agree on a rescue plan

“If they come up with something, great,” Christie said of a legislative compromise. “If they don’t, then bankruptcy would be the only option. And while I would regret having to go down that road, it is a road that I will have no choice but to go down.”