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Public Banks and Public Rail: Expanding Green Public Transit in New Jersey

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To fund this and other public transportation initiatives (and a plethora of other public services), New Jersey could establish a public bank. Using money the state already has, a public infrastructure or development bank could issue bonds, support public-private initiatives, and lend to state and local entities at very low interest rates. In this way, a public bank could fund the entire endeavor–modernization, expansion, and greening of public rail transportation–without raising taxes or taking money from other state programs.

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