budget

State Sen. Kevin O'Toole (R-Cedar Grove)

TRENTON - There's state Sen. Kevin O'Toole (R-Cedar Grove) railing against the proposed 2010 budget.

"There are seven new taxes in this budget," exclaims O'Toole, chair of the Essex County Republican Party and chair of the Republican chairs. "That adds up to $1 billion in this budget, and it's bad enough, it's evil enough, it's anti-business enough.

"But it's on top of 103 new taxes since 2002," he adds incredulously. "It's mind-numbing. It's crippling. We have built this problem brick by brick, tax by tax."

State Senate Budget Chair Barbara Buono (D-Metuchen) with Gov. Jon Corzine.

TRENTON - Questions abounded about the delays leading up to state Senate President Richard Codey (D-Roseland) gripping the gavel and convening the budget session a little while ago.

Had state Sen. Nia Gill (D-Montclair) wandered off, forcing Codey to turn to the GOP to summon another vote?

Apparently not.

Sen. Ray Lesniak (D-Elizabeth) had questions about the EnCap bill and its relationship to the federal stimulus bill, which was the chief reason for the delay, according to sources.

Now state sen. Barbara Buono (D-Metuchen) rises and launches into an argument for the $29 billion state budget, complete with shout-outs to fierce GOP opponents, including state Sen. Kevin O'Toole (R-Cedar Grove) and state Sen. Marcia Karrow (R-Flemington), who appear geared up for a rebuttal.

COUTINHO: BUDGET LAYING THE GROUNDWORK FOR ECONOMIC DEVELOPMENT

(TRENTON) - Assemblyman Albert Coutinho (D-Essex) released the following statement  today:

"There is no escaping the fact that we now live in a global economy, and this economic crisis is different than anything we've experienced, but through it all New Jersey remains better positioned than most states and is poised to thrive when the economy rebounds."

Nomination of Supreme Court Justice Albin to be Considered

           TRENTON – The full Senate will meet on Thursday, June 25, at 2 pm to consider a diverse package of bills, most notably the revised $29 billion FY 2010 Appropriations Act, which is constitutionally required to be signed into law by July 1, 2009.  A number of companion bills will also be voted on in order to administer the changes necessary to balance the budget.

            The Senate will also consider a wide-ranging list of bills designed to stimulate New Jersey’s economy, protect and preserve open space, improve mental health services, promote shared services and improve public safety.  Additionally, the Senate will exercise its advise and consent duties by considering the re-nomination of Associate Justice Barry Albin to the New Jersey Supreme Court.

GREENWALD STATEMENT ON COMMITTEE RELEASE
OF 'REVISED AND IMPROVED' FY2010 PLAN

(TRENTON) - Assembly Budget Committee Chairman Louis Greenwald (D-Camden) today released the following statement as the panel voted 8-4 to send the Fiscal Year 2010 state budget to the full Assembly, where a Thursday floor vote has been scheduled:

"What a difference a week makes.

"The budget we released today is revised and improved, yet still maintains the core spending reductions we have reviewed throughout the past three months."

In 2006, legislators met all summer trying to find ways to keep the pension funds from insolvency, O'Toole said. Now, in an election year, the governor plans to increase pension benefits without providing any of the resources needed to pay for the benefits. The governor is pushing the pensions closer to insolvency.

Senators Say Governor Isn't Telling Taxpayers Where He's Spending $17.5 Billion in Federal Stimulus Funds

           TRENTON – Senate President Richard J. Codey (D-Essex) today welcomed news of an unanticipated windfall from the state’s tax amnesty program, vowing to keep the priority focused on relief for taxpayers as the Senate zeros in on passing the budget next Thursday.

GREENWALD: PROPERTY TAXPAYERS WILL BE 'RIGHTFUL BENEFICIARIES' OF TAX AMNESTY WINDFALL

(TRENTON) - Assembly Budget Committee Chairman Louis Greenwald (D-Camden) made the following statement regarding the state's unexpected receipt of approximately $400 million in unanticipated new revenue through the recent tax amnesty program:

*Update: Read Gov. Corzine's statements on the windfall here and here. 

Assembly Speaker Joseph Roberts (D-Camden) called the discovery of about $400 million in unanticipated tax amnesty revenue today "great news," and said that legislators will start working it into the budget that was originally expected to be passed today. 

Roberts said that the Assembly Budget Committee will meet Monday to discuss how to use the money to restore property tax relief, and he expects the assembly to vote on the final budget package next Thursday.

“Considering this development, it would be imprudent to advance budget bills today now that we can responsibly improve them,” he said.

Roberts also lauded his own party for creating the tax amnesty program.

“This development again shows how New Jersey Democrats have indeed been ahead of the curve in responding to this economic crisis. Those who criticized this program and never offered an alternative must now confront the reality that this was the nation’s most successful tax amnesty program and a smart and sensible policy,” he said.