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On January 8, 2008, to address ongoing structural budget issues, Governor Corzine proposed a four - part proposal including an overall reduction in spending, a constitutional amendment to require more voter approval for state borrowing, an executive order prohibiting the
use of one - time revenues to balance the budget and a controversial plan to raise some $ 38 billion by leasing the Garden State Parkway, the New Jersey Turnpike, and other toll
roads for at least 75 years to a new
public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50 % plus inflation every four years
beginning in 2010.