With the stroke of a pen, New Jersey Governor Phil Murphy has unplugged the state's pro-electric-vehicle position, signing into law a new EV road tax that is the highest of its kind in the nation. Starting in July, New Jersey EV owners must pay an annual $250 road tax fee in an effort to offset the state's loss in fuel tax revenue. The new fee will increase by $10 each of the next four years until it reaches $290 in 2028.
To make matters worse, New Jersey requires buyers and leases of all new vehicles to pay four years of registration fees upfront and the new EV fee will be included in that initial payment. Therefore, beginning in July, any new electric vehicle purchased or leased in New Jersey will cost $1,060 more than it does today. That's considerably damaging since the higher initial cost of an electric vehicle is one of the biggest impediments to EV adoptio