Pension Bills Fall Short Of True, Lasting Reform
Senator Joseph Kyrillos issued the following statement regarding the budget and the pension and benefits reform that cleared the Senate today:
“The budget that passed the Senate and General Assembly today is a document that will almost certainly cause property tax hikes in municipalities from High Point to Cape May. It cuts municipal aid to middle class communities and it cuts direct property tax relief to the taxpayers. Sadly, this budget is balanced on the backs of the hardworking men and women of this state. My colleagues and I presented the governor and his allies in the Legislature with a common-sense budget alternative that would have redirected recourses to property tax relief to make New Jersey more affordable for middle class property taxpayers. The governor did not even take the time to examine our proposal. The budget that was adopted today, over my objections, will make New Jersey less affordable and puts us on the road to higher taxes and higher tolls.
“Additionally, I am disappointed that the original pension reform bills that were introduced in the Senate did not make it to the floor. The original bills would have ensured the viability of the retirement funds that hard working public employees and teachers rely upon in their golden years. The reforms enacted today are a first step but clearly more still needs to be done. If we do not enact the most basic reforms the fiscal health of PERS and TPAF will be at risk.”
Link to Post:
http://www.senatenj.com/index.php/kyrillos/kyrillos-budget-continues-njs-affordability-crisis/578
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June 24, 2008
