budget

The six Republican members of the Senate Budget and Appropriations Committee said today's testimony shows Governor Corzine has created a breathtakingly irresponsible budget that will inevitably result in crippling tax increases on New Jersey's middle class if he wins re-election.

Senators Joseph Pennacchio and Bill Baroni are drafting legislation that would create a bipartisan commission to investigate the state's handling of its depleted $59 billion pension system and come up with a plan to restore it to solvency. The Senate Resolution would create a bipartisan panel of senators with the power to issue subpoenas.

TRENTON - Senator Dana Redd today called on Trenton Establishment Republicans to put forward a balanced budget, as required by New Jersey’s Constitution.

The diversions in this year's budget and in past budgets -- as well as the need to borrow money to pay unemployment claims -- clearly demonstrate why we need a constitutional amendment banning the improper taking of money set aside to protect workers and families during hard times, Senate Republican Leader Tom Kean says.

The first of Governor Corzine's budget proposals shortchanging the Middle Class has been abandoned. Now it's time for taxpayers to take charge and force the governor to listen about the rest.

Senator Joseph Pennacchio, R-Passaic and Morris, is requesting that the members of the Senate Judiciary Committee agree to thoroughly question three members of the State Investment Council, which sets policy for state pension investments, before signing off on their reappointments by Governor Corzine..

TRENTON- New Jersey General Assembly Appropriations Chair Nellie Pou today called on Republican Gubernatorial Candidate Chris Christie to put forward a budget in light of comments he made last week on the Brian Lehrer show.

Glen Ridge, NJ – Mayor Carl Bergmanson, Jon Corzine’s opponent for Governor in the upcoming Democratic Primary, says the Governor’s proposal to rearrange state debt represents another in a long line of Jon Corzine’s broken promises.

Projected school aid to school districts in Legislative District 37, 2009-2010 will hurt taxpayers in the following towns: Bergenfield, Englewood, Englewood Cliffs, Rochelle Park, Teaneck and Tenafly. The basic reason for it is that the school aid will be kept at the same level as last year.  It means that the taxpayers will have to pay for expected budget increases in these towns.  The school budgets increase on average 3-4 percent a year. It simply means that the taxpayers will have to make the difference of 3-4 percent increase in our property taxes.

Senator Joseph Pennacchio, a member of the Senate Budget and Appropriations Committee, sent a letter to Treasurer David Rousseau seeking details of Governor Corzine's plan for refinancing state bonds. The governor's 2010 budget includes $361 million in "savings" from an unspecified debt restructuring. The treasurer has so far provided no details of how much debt will be restructured, how it will be accomplished or how much it will cost taxpayers.