Tag: NJ budget

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Reader says If New Jersey were a corporation it would have declared bankruptcy years ago

tr0601harris 9 KURDZUK

If New Jersey were a corporation it would have declared bankruptcy years ago. Murphy want to “tax the rich” to raise only a fraction of what the state needs to meet its obligations. The Republican tax plan beats him to the punch by removing the deduction for state and local taxes which are already unsustainably high. Things will only get worse as the wealthiest individuals start to leave the state in greater numbers and the mess will be left to the middle class to clean up.
So, about those union pension payments, can we cut a deal on them now or would you rather we default on them later?

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Governor Christie Announces Trio of Fiscally Responsible Public Employee Contract Agreements

Chris_christie_theridgewoodblog

August 29, 2016

the staff of the Ridgewood blog

IFPTE & IBEW Financial Terms Protect Taxpayers, Ensure Public Services

Trenton, NJ , Governor Chris Christie today announced a key public employee contract agreement with the International Federation of Professional and Technical Engineers (IFPTE), as well as two agreements with the International Brotherhood of Electrical Workers (IBEW). These state worker contracts, reflective of the state’s fiscal realities and budget challenges, will not require tax hikes, as taxpayers routinely experienced under past governors.

IFPTE’s negotiated settlement, ratified by the union last month, is retroactive to July 1, 2015 and extends through Fiscal Year 2019. Its financial terms include the following across-the-board salary increases: July 1, 2015 – 0 percent; July 1, 2016 – 0 percent; July 1, 2017 – 1.75 percent, and July 1, 2018 – 1.5 percent. This contract covers approximately 4,500 employees of the state and public higher education institutions.

The two negotiated settlements ratified by IBEW locals this month are also retroactive to July 1, 2015 and extend through Fiscal Year 2019, including the same across-the-board salary increases as IFPTE’s settlement. These two contracts cover an approximate total of 1,150 state employees, including several hundred in various managerial positions and hundreds of state attorneys.

“We have again negotiated fiscally responsible state employee contracts that protect taxpayers, provide the budgetary flexibility to fund public services and keep government wages in line with the private sector,” Governor Christie said. “This is how public worker negotiations should be, with union leaders and membership agreeing to sustainable fiscal decisions that they understand will benefit all residents. These are model public employee contracts to be followed by government at all levels in New Jersey and across the country.”

As Governor Christie has previously noted, he has similar expectations from the other public employee unions with which the Administration continues to negotiate another round of labor contracts.

In its first round of agreements with state employee unions, the Christie administration stood with taxpayers to produce 0-percent wage increases for tens of thousands of employees in 2011 and 2012, followed by a 1-percent increase and 1.75-percent increase in 2013 and 2014, respectively. Under the governor’s leadership, across-the-board wage increases have totaled only 6 percent over eight-years of negotiated agreements, an average of just .75 percent per year, which is in addition to the landmark pension and health benefit reforms enacted to save taxpayers tens of billions of dollars.

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New Jersey has to rethink its budget because one guy moved

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Linette Lopez

If you move away from your home state, some friends might throw you a party. Maybe you’ll get a happy-hour discount at your local bar.

If you’re really a big deal, you might get to throw out the first pitch at your local minor-league baseball team’s next game.

Other than that, everything will be pretty much the same after you’re gone.

That is, of course, unless you’re billionaire David Tepper.

If you are him, then when you move away you have the potential to send your whole state ( in this case New Jersey) into red-alert mode.

Tepper, the founder of the hedge fund Appaloosa Management, moved to Florida last fall. This, according to Bloomberg, has leaders of his former state very concerned.

https://www.businessinsider.com/tepper-move-hurts-new-jersey-2016-4

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New Jersey Must Focus on Cutting Spending All of our futures depend on it

Assemblywoman_Holly_Schepisi_theirdgewoodblog

March 30,2016
Assemblywomen Holly Schepisi

Ridgewood NJ, When looking at why the cost of living in New Jersey is so absurdly high, it is imperative to understand actual numbers for spending around the State.

Anyone following the proposed Atlantic City bankruptcy and/or takeover is probably trying to understand how Atlantic City got to this point. Most people are unaware that the population of Atlantic City consists of only 39,500 residents and 6,679 school age children. Yet, the municipal budget is $262,000,000 equaling spending of $26,531.64 per household of 4 people.

Likewise the school budget is $166,000,000 which equals an average spending of $24,887.56 per child. In other words, for a family of 4 with two school age children, the governmental and school spending in Atlantic City equals $76,306.76 per household. We must cut spending and figure out a better way. All of our futures depend on it.

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While Democrats look to stamp out Free Speech , Christie and Teachers Union agree to Historic Pension Reforms

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gov_christie_press_lrg-1

While Democrats look to stamp out Free Speech , Christie and Teachers Union agree to Historic Pension Reforms

Christie lays out $33.8B budget; wants to make public pensions more similar to those in private sector

FEBRUARY 24, 2015, 1:00 PM    LAST UPDATED: TUESDAY, FEBRUARY 24, 2015, 10:42 PM
BY MELISSA HAYES AND DUSTIN RACIOPPI
STATE HO– USE BUREAU |
THE RECORD

Pitching what he said could become a “national model,” Governor Christie used his budget speech Tuesday to speak almost exclusively about pension reform, returning to the issue that won him national acclaim and one that sets up fights with unions and Democrats that control the Legislature.

The governor’s reforms – a sweeping package of pension freezes, new union-controlled benefit plans and health care changes — would need approval from lawmakers and from voters who would be asked to rewrite the state constitution. And it is unclear how long the changes would take to enact, how much taxpayers would save and what it would ultimately mean for the more than 400,000 active public workers — including teachers, police, firefighters, and state and local employees — earning pensions and benefits.

Christie delivered his budget address before the full Legislature.
“I am here today to ask you to do what may be politically difficult, but what is morally the right thing to do,” Christie said. “This is the type of leadership our state requires.”

Christie’s team began the morning with a 15-second social-media video publicizing the address and touting his plan as having the backing of the New Jersey Education Association, the powerful union that spent millions against him and opposed initial pension changes he signed into law in 2011. By Tuesday afternoon, the union’s leaders blasted the announcement of a partnership, calling it “embellished” and “overstated,” and saying enacting such reforms would be a lengthy and complex process.

https://www.northjersey.com/news/christie-lays-out-33-8b-budget-wants-to-make-public-pensions-more-similar-to-those-in-private-sector-1.1276917

 

Republican Leaders praise Christie’s pension ‘roadmap’

TRENTON — Two of Trenton’s top Republican leaders applauded Gov. Chris Christie’s commitment to fixing an ailing pension and benefit system moments after the executive delivered his latest budget address during a joint legislative session on the Assembly floor here today. (Brush/PolitickerNJ)

Republican Leaders praise Christie budget address, pension ‘roadmap’ | New Jersey News, Politics, Opinion, and Analysis

 

Christie focuses budget address on pension system

It was a rousing welcome but an unusual budget speech. (Aron/NJTV)

https://www.njtvonline.org/news/video/christie-focuses-budget-address-on-pension-system/

Stile: Teachers union unlikely partner in Christie’s pension overhaul

Governor Christie sold it as one of the biggest political coups of recent New Jersey history — a plan to dramatically restructure New Jersey’s public-employee pension system with a new and very improbable partner, the New Jersey Education Association. (Stile/The Bergen Record)

https://www.northjersey.com/news/stile-teachers-union-unlikely-partner-in-christie-s-pension-overhaul-1.1277147

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Trenton’s Broken Record

New-Jersey-State-Capitol

Trenton’s Broken Record
Jun. 19  
By Joe Sinagra | The Save Jersey Blog

“This plan is not only a matter of fairness and responsibility with pension payments, it is really about the full range of government services and opportunities, including such things as property tax relief, college affordability, public schools, law enforcement, transportation and many more priority needs,” NJ Senate President Steve Sweeney said on Wednesday as he rolled out his counter-proposal to Governor Chris Christie’s budget. “We have to maintain the state’s commitment to all New Jersey residents by meeting all of our commitments. This is a fair and responsible plan that will help meet those needs as it restores balance to the budget in a fiscally responsible way.”

So in all the years and administrations prior to Christie being governor, the 154 tax increases, raising the state sales tax from 6% to 7%, a 4% corporate tax surcharge, a 25% increase in liquor taxes, increased taxes for the citizens of New Jersey by over $10 billion dollars, an increase in the Realty Transfer Tax of $62 million on the state level, another $22 million on the county level, along with another $8 million tax on the lottery. . . Senator Sweeney now suddenly believes we need a fair and responsible plan?

What happened to all of the revenue that was already collected?

Even the promised tax rebate disappeared. On average, property taxes went up 55 percent statewide from the prior seven years before Corzine and another 20 percent when Corzine took office, and Corzine left us a $2.2 billion shortfall that existed when Christie took office on Jan. 19, 2010.

And Senator Sweeney decides now is the time to meet the commitments of the residents? Why is it that more is never enough in this state?

– See more at: https://savejersey.com/2014/06/new-jersey-budget-sweeney/#sthash.VrJfTZ1d.dpuf

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Its all about “fees” Christie changes course on fee hikes

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Its all about “fees” Christie changes course on fee hikes

Everything but spending cuts

MAY 12, 2014, 10:29 PM    LAST UPDATED: MONDAY, MAY 12, 2014, 10:29 PM
BY JOHN REITMEYER
STATE HO– USE BUREAU
THE RECORD

Two months ago, Governor Christie proposed a $34.4 billion budget, promising “no new taxes on the people of New Jersey.”

Now his administration is detailing nearly two dozen fees and fines that he wants increased — none of which was made public at the time.

The tax policy changes would increase revenue for five different state departments.

They include boosting the $2 fee added to motor vehicle fines to fund the state’s forensic DNA lab by 75 cents. The fingerprint fees for non-criminal background checks would go from $30 to $45.

Home improvement contractors would be forced to pay $110 instead of $90 to register with the state, and $90 instead of $75 to renew their registration.

The state’s Division Alcoholic Beverage Control, which regulates the sale of alcohol in New Jersey, would also increase fees across the board, according to Christie’s proposal.

For state taxpayers and businesses, the new fee and fine hikes — 23 in all, according to information made public last week by the state Department of Treasury — would mean giving more money to Trenton. But for Christie, a Republican seen as a possible contender for his party’s 2016 presidential nomination, the increases might pose a political problem.

He frequently and very publicly attacks Democrats for raising fees and taxes — including many of the same lawmakers he now needs to pass this budget.

And even as Democrats have questioned Christie’s proposal, which would bring in an estimated $32 million in new revenue, the governor is blaming the Democrats for having to hike the fees and fines in the first place.

“Quite frankly, I’ve had my teeth kicked in by this administration that we’ve raised taxes 115 times,” said Senate Budget and Appropriations Committee Chairman Paul Sarlo, D-Wood-Ridge, when the issue came up during a meeting Thursday. “We’ve all been kicked around about how many taxes and fee increases we’ve voted on it recent years.”

After the meeting, Sarlo said it will take Republican votes to get the increases Christie wants adopted to balance his budget.

– See more at: https://www.northjersey.com/news/christie-changes-course-on-fee-hikes-1.1014656#sthash.YpAsjTuy.dpuf

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Christie may cut budget to close growing shortfall, Treasury says

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Christie may cut budget to close growing shortfall, Treasury says

TRENTON — New Jersey’s budget shortfall will grow to a staggering $807 million at the end of April, state officials announced Monday while warning of a fiscal emergency that could force Gov. Chris Christie to make deep and unexpected cuts to several programs.

The state Treasury, in a rare announcement last night, said the Republican governor is bracing for a tough financial blow when the month wraps up tomorrow. Despite the setback, Christie “will take any and all actions necessary” to find the money to shore up his $32.2 billion budget — even if it means slashing property tax rebates or other programs, Treasury indicated.

An early look at major tax revenues by Treasury officials showed the state will be $600 million short of Christie’s estimates for April. (Rizzo/Star-Ledger)

https://www.nj.com/politics/index.ssf/2014/04/christie_may_cut_budget_to_close_growing_shortfall_treasury_says.html#incart_river

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Christie administration outlines $700 million in mid-year cuts to balance budget

rusty axe in a tree stump

Christie administration outlines $700 million in mid-year cuts to balance budget

March 21, 2014, 10:49 AM    Last updated: Friday, March 21, 2014, 1:04 PM
By JOHN REITMEYER
STATE HO– USE BUREAU
The Record

Nearly every state department will see some funding reduced in a series of spending cuts totaling nearly $700 million that Governor Christie says is needed now to help keep New Jersey’s $33 billion budget in balance.

Christie’s administration announced the midyear cuts — spending adjustments called “lapses” in state budget documents — in late February, but the administration did not detail at the time which departments and programs would see budget reductions.

In all, the administration is making cuts to 70 different programs spanning 12 different departments, as well as several accounts that are shared by state departments.  The Department of Education will lose the most funding, with $223.1 million cut from its budget, followed by the Department of Human Services, which is losing $148.5 million.

The spending lapses, which total $694 million, were announced in late February as the $33 billion budget Christie signed in June was running a revenue shortfall estimated to be as high as $400 million.

The budget adjustments will also help offset two midyear changes to the spending plan Christie signed last year. Treasury reduced its revenue forecast by roughly $250 million in February, and it also reported $292 million in supplemental spending added the Christie’s original budget plan.

– See more at: https://www.northjersey.com/news/christie-administration-outlines-700-million-in-mid-year-cuts-to-balance-budget-1.748079#sthash.kmmNa97W.dpuf