Senator Kevin O'Toole

February 21, 2012   

Contact: Jeremy Rosen / (609) 847-3600
Senator Kevin J. O'Toole

Senator Kevin O’Toole (R-40), a member of the Senate Budget and Appropriations committee, praised the Governor’s budget introduced today as setting our state’s priorities in the right direction.

“This budget demonstrates Governor Christie’s commitment to the New Jersey Comeback,” O’Toole said. “This budget begins on a historic note, with the single largest pension payment of $1.1 billion, in our State’s history.”

The Governor’s budget continues the phase in of $350 million in business tax credits. These tax credits have grown the private sector by 60, 000 jobs. The FY13 budget spends a total $32.1 billion and provides an additional $213 million for school aid from last year, increases higher education funding by 5.5%, and features the cornerstone of a 10% income tax reduction for all New Jerseyans.

“The cornerstone of the Governor’s budget is the 10% income tax reduction for all New Jerseyans, across the board. We have seen that with the property tax cap, real relief is attainable for our already over taxed residents,” said O’Toole. “We are providing property tax relief to our residents by increasing school funding by $213 million from last year and more importantly showing a commitment to the students of New Jersey by fully funding education.”

“We are providing residents and business with tax cuts at historic levels and maintaining our commitment to those that most need it,” O’Toole concluded. “The commitment of making New Jersey affordable, a place to live, grow and retire continues to be shown with this budget.”

Senator Kevin O’Toole (R-40), a member of the Senate Budget and Appropriations committee, praised the Governor’s budget introduced today as setting our state’s priorities in the right direction. “This budget demonstrates Governor Christie’s commitment to the New Jersey Comeback,” O’Toole said. “This budget begins on [...]