The New Jersey Turnpike Authority could roll back toll increases to reflect $1.25 billion it no longer needs to spend on a canceled mass transit tunnel project and still meet contractual debt-service coverage levels, according to an analysis from the Office of Legislative Services.

Tolls on the New Jersey Turnpike and the Garden State Parkway are set to go up by 53% and 50%, respectively, on Jan. 1, 2012. Tolls last went up in December 2008 by 40% on the Turnpike and 43% on the Parkway.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.