Tag: $10 billion borrowing scheme

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Governor Murphy’s “Crazy Eddie” Borrowing Scheme

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the staff of the Ridgewood blog

River Vale NJ, Assemblywomen Holly Schepisi ,”Only in New Jersey could we increase spending by BILLIONS, borrow BILLIONS in dollars because we allegedly can’t pay our increased spending, increase the gas tax during a pandemic to the fourth highest gas tax in the nation, cut programs like mental health services for at risk youth (a program that has been in place since the 1980s and has assisted children with mental health, employment, pregnancy prevention, drug abuse education and more) and then announce a program to give free cash starting next year to anyone who gives birth.
It is the equivalent of paying for your neighbor’s HULU account so they can watch Handmaid’s Tale while your own home is in foreclosure. The State of NJ is proposing to borrow money at a cost of $80 million in interest payments to the tax payers in this State in order to issue free “Baby Bonds” that will yield only a 1.35% return over 18 years or an approximate total of $21.6 million in interest. How does this make any sense whatsoever?”
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Governor Murphy Says if you Don’t like it Leave and People are in Droves

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the staff of the Ridgewood blog

Trenton NJ, once again Governor Phil Murphy has told New Jersey residents , “if you don’t like his policies leave.”  During a press conference on Friday, Murphy snapped at reporters questioning his slow reopening of the state and poor handling of the pandemic, saying, “If you don’t like our leadership here, why don’t you go down to Georgia and see how that feels.”

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Democrats Vote to Stop Fair Representation for “Select Committee” with unilateral power to issue this debt

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No Inclusion whenit comes to Democrat Decision Makers  
the staff of the Ridgewood blog
Trenton NJ, according to Assemblywomen Holly Schepisi,  Today Assemblyman Jamel Holley, a Democratic member of the Legislature, made a motion for an amendment to the proposed $9.9 BILLION debt bill to add Black and Latino representation to a “Select Committee” which will have unilateral power to issue this debt.

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Democratic Senator Dawn Addiego Breaks ranks Votes No on $10 billion Borrowing Scheme

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the staff of the Ridgewood blog

Trenton NJ,  In a strong stance against the bonding legislation passed by the Senate today, Senator Dawn Addiego issued the following statement:

“Asking New Jersey taxpayers to solely shoulder what equates to a 35 year tax increase without the transparency that accompanies a public referendum is the absolute wrong way to approach this crisis.  We are all in this pandemic together.  Solving the budget challenges brought on by it should be no different.  This is a pivotal moment that will impact the lives of New Jersey families for generations – they deserve an opportunity to vote on it.”

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MASSIVE NEW PROPERTY AND SALES TAX INCREASES COMING FOR NEW JERSEY TAXPAYERS TAXPAYERS

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Assemblywomen Holly Schepisi

River Vale NJ, As of the end of 2019, New Jersey owed $44.4 billion in bonded debt obligations and combined with nonbonded long-term obligations — such as all the money owed to retired public workers who’ve been promised a pension in New Jersey — well over $200 billion, roughly five times the size of the state’s annual budget.

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