Senator Steve Oroho (R- Sussex, Morris, Hunterdon), a member of the Senate Budget and Appropriations Committee, issued the following statement today following the passage of the Democrat sponsored Fiscal Year 2012 state budget:
“Over the past 10 years, the Democrat majority have been intent on pushing through dramatic tax increases, and irresponsible budget gimmicks to fund an insatiable desire to spend taxpayer dollars. It is no coincidence that during this same period it was the first time in recorded history where the state had less private sector jobs at the end of the decade than we had at the beginning.
“Now today, Democrats continue to push for an increase in the income tax and for another state budget that relies on gimmicks and phantom revenue projections. This budget is an astounding $1.2 billion more than the budget proposed by the Governor in February and is based on nearly $600 million in dubious revenue including $190 million in mysterious efficiencies that are assumed will take place, but have not been identified, and $365 million in an income tax windfall that has not been certified.
“This is on top of a $165 million shortfall due to the loss of health benefits savings as a result of the compromise of the newly enacted pension and healthcare reform legislation. Democrats knew this money would not be available following testimony two weeks ago from the Treasurer’s office, yet they chose to include it in their budget anyway.
“It is really easy to promise things people want when you are paying for it with money you do not have. In the long-term, this unrealistic budget will make New Jersey less competitive, stifle private-sector job growth, entrepreneurship and chase businesses and their jobs to neighboring states.
“The only way to restore New Jersey’s once proud record of job creation is to fix the errors of the past and to lower the cost of total government, and reform our tax and regulatory environments.
“The Governor put forth a responsible budget proposal in February that reflects the realities of our time and the serious economic problems we still face. Unfortunately this budget does not resemble that proposal and the disciplined fiscal policies we need to once again become the economic engine that creates jobs for our residents.”