As the prospect of higher gasoline taxes to support the Transportation Trust Fund and higher income or sales taxes to replenish the public employee pension fund gather speed, state Senators Jennifer Beck (R-12) and Mike Doherty (R-23) offer a different solution.

Sen. Jennifer Beck
Sen. Jennifer Beck
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Their solution, discussed in a Statehouse press conference, is a seven-year payment program tied to a 3.34 percent annual growth in state revenue. Beck said that research through the state Office of Legislative Services determined its feasiblity.

In addition, she said, funds would be drawn from "...underutilized sources that already exist and also initiating cost savings, such as consensus health care reforms to provide public employees with a ‘gold’ standard. Beyond solving transportation and pension crises, it would also taking care of state debt service, fixed-cost increases and responsible discretionary spending levels.”

Revenues beyond 3.34 percent in any year would be lock-boxed. Years in which the threshold isn't met would trigger bonding for capital projects. Beck predicted that at the end of seven years, both funds would be "completely pay-go," with any excess capable of providing tax relief.

Senate President Steve Sweeney (D-3) today disclosed his own plan for using state revenue gains, applying them to early and higher education, transportation, retirement funds, and a poverty study panel.

Doherty sponsors a measure to create a State Transportation Cost Analysis Task Force, which he believes will ultimately reduce costs for drivers and taxpayers.

Assembly Transportation Committee Chairman John Wisniewski told Townsquare Media Statehouse reporter Kevin McArdle that he sees no realistic solution that can be employed before the TTF is scheduled to run dry on June 30.

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