economy

SCHAER/GUSCIORA BILL STRENGTHENING COMMUNITY BANKS BECOMES LAW

(TRENTON) - Legislation Assemblymen Gary Schaer and Reed Gusciora sponsored to allow the state to invest some of its cash and pension funds with federally insured New Jersey-based banks and credit unions was signed into law today by Gov. Jon S. Corzine.

Senate Republican Budget Officer Anthony Bucco and Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, criticize Governor Corzine for refusing to regularly update revenue numbers despite repeated requests for openness and transparency.

GUSCIORA STATEMENT ON CHRISTIE VISIT TO EWING

Assemblyman Reed Gusciora (D-Mercer) today released the following statement in response to Bush Republican gubernatorial candidate Chris Christie’s visit to Ewing to meet with small business owners:

Jon Corzine's Meadowlands Commission is asleep at the switch if its members can't keep a steady flow of financing to a $2 billion project like Xanadu. What good is state oversight if unnecessary delays keep costing New Jersey residents jobs and tax money?

Senator Steve Oroho, R-Sussex and Hunterdon, said calls for a federal tax increase that would bleed a whopping $100 billion from investments in private sector job growth would be disastrous for the economy of New Jersey. Senator Oroho said Governor Corzine has both the experience and the connections to help prevent passage of this job-killing tax on every single securities transaction, including those made by struggling, undercapitalized pension funds.

A tax proposed by unions and liberal Democrats could prolong the recession in New Jersey. Governor Corzine should do the right thing and speak up against this job-killing tax, Senator Joe Kyrillos says. 

FREEHOLDER WAY:  CHRISTIE’S REFUSAL OF CRITICAL EDUCATION DOLLARS WOULD CRIPPLE STATE’S EDUCATION SYSTEM & ECONOMY

(WAYNE TOWNSHIP) – In response to Chris Christie’s latest attempt to mislead voters on his position on education, Passaic Freeholder Tahesha Way today said that Bush Republican Gubernatorial Candidate Chris Christie’s refusal of $2 billion in federal funding for the state’s education system would not only hurt New Jersey’s quality public education system but would also have devastating long term impacts on the state’s work force and economy. 

Record unemployment shows again that Jon Corzine's record on job creation is abysmal. New Jersey's economy was in decline long before the national recession took hold. Our unemployment rate remains higher than that of any neighboring state's. When will the governor back policies that could bring about real economic growth for New Jersey's struggling families?

“It is more than a bit ironic that Governor Corzine was asked to testify at a Senate Subcommittee hearing on clean energy jobs and economic growth today.  New Jersey has been identified as one of only 8 states in the nation to be losing clean energy jobs and is losing clean jobs at the fastest rate in the region.  Governor Corzine’s record on these issues, like so many others, has been characterized by broken promises and failure.  Perhaps Governor Corzine has called in yet another favor from his Washington friends in an attempt to raise his profile and distract voters from his record as Governor.”- Kevin Roberts, Spokesman, New Jersey Republican Party

New Jersey Unemployment Surges to 9.2%

Senator Joe Kyrillos, senior Republican on the Senate Economic Growth Committee, said today’s report that New Jersey’s unemployment rate surged to 9.2 percent in June shows the state is paying a terrible price for Trenton’s inexcusable neglect of economic development over the last eight years. In addition to having the highest unemployment rate in the region, Kyrillos noted that New Jersey led the nation in new jobless claims during the week of June 27.

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