New Jersey's 25th Legislative District

Senator Anthony Bucco

Senator Anthony Bucco
Senator Jennifer Beck
Senator Joe Pennacchio
Senator Kevin O'Toole
Senator Steve Oroho

UI Solvency, Private Sector Job Growth Show New Jersey’s Economy on Right Track

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Following testimony from Labor Commissioner Harold Wirths before the Senate Budget and Appropriations Committee, Senators Anthony Bucco, Kevin O’Toole, Steven Oroho, Joe Pennacchio, and Jennifer Beck remarked that the labor indicators presented to the committee show a marked turnaround for the state’s long term economic health.

Senator Anthony Bucco (R-Morris), Republican Budget Officer:

The Administration is to be applauded for putting the state’s unemployment insurance fund on the path to solvency more quickly than anyone expected. Through a combination of tax reforms, efficiencies, and aggressive prosecution of fraud and abuse, this Governor has fixed the mess he inherited as a result of years of diversions and fiscal irresponsibility by an unchecked Democratic Majority in Trenton.

Senator Kevin O’Toole (R-Essex):

The bankrupt unemployment insurance fund inherited by Governor Christie is emblematic of the problems created by years of budget gimmicks, revenue grabs, and borrowing. The fact that this fund will be stabilized by the end of 2013 is a testament to this Administration’s leadership in restoring fiscal sanity to our state and sending a signal to job creators that they will not be gouged to pay for irresponsibility in Trenton.

Senator Steven Oroho (R-Sussex):

Private sector job creation is a key indicator of our state’s economic health. In the past two years, we have cut taxes, taken actions to help lower the cost of government and created 60,000 private sector jobs. This is compared to many years of tax and spending increases that helped contribute to the loss of nearly 250,000 private sector jobs. That is a contrast that speaks for itself. We have much more work to do, but a New Jersey with a competitive tax structure and fiscally disciplined government is a great recipe for private sector job creation.

Senator Joe Pennacchio (R-Morris):

Simply put, the difficult decisions we’ve made over the last two years are getting results for our economy: restoring solvency to the UI fund, putting more private sector jobs into our economy, and improving the outlook for job seekers across the state. This was accomplished this not through sound-bites or gimmicky legislation, rather, it was achieved by restoring honesty, integrity, and affordability to the state budget.

Senator Jennifer Beck (R-Monmouth):

While we will not be content until every New Jersey worker who needs a job can find a job, we are clearly moving in the right direction with regard to our economy. New Jersey is slowly coming back from a decade of economic stagnation and decline precipitated by poor decision making in Trenton. For the first time in recent memory, a majority of New Jersey residents believe our state is on the right track. It isn’t hard to see why: we’re doing something different and it is working for our economy.

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