Tom Kean: Senate Republicans United Against Corzine Pension Gimmick

'I'm not going to kick the can down the road. If I'm not re-elected, its not the end of the world.'

Governor Corzine, January 2008.

Senate Republican Leader Tom Kean (District 21) announced that all 17 members of the Senate Republican Caucus oppose Governor Corzine's proposal to postpone pension payments until after his re-election campaign. The Governor's proposal won't save taxpayers a penny.

"This plan will cost taxpayers millions, if not billions, of dollars to make up for investment returns lost because of these deferred payments," Kean said. "Failing to fund pensions in a year when the state's investment losses have exceeded $23 billion is completely irresponsible. We have to save now so we can pay retirees' the pensions we've agreed to provide in the future."

The proposal flies in the face of Governor Corzine's repeated calls to stop irresponsible gimmicks that leave future taxpayers to cope with today's problems.

"It shouldn't matter what the polls say the governor must do to get re-elected," Kean said. "Republican senators oppose forcing our children and our grandchildren to pay for the fiscal irresponsibility of the governor today. Governor Corzine is letting poll-driven gimmicks drive policy, and the State will be less affordable and our government less accountable because of it. The Governor needs to listen to bipartisan proposals to reform the pension system. If we he choose to ignore bipartisan alternatives, he should at least listen to his own advice and stop 'kicking the can down the road' for another year."

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