Says Despite Release of Ling and Lee, More Needs to Be Done
Senator Kevin O’Toole (R-40) congratulated former President Bill Clinton for his successful effort to secure the release of two American reporters who had been imprisoned by North Korea. The reporters, Laura Ling and Euna Lee, were pardoned and released following a successful diplomatic effort by Clinton, including a visit by the former President to Pyongyang.
Bucco: Corzine Marketing State Debt without Mention of $8 Billion Structural Deficit, Using Old Revenue Data
Senator Tony Bucco (R-Morris), the Senate Republican Budget Officer, has issued a letter to Governor Corzine calling on him to revise marketing materials that encourage investors to buy $1.925 billion of short term New Jersey debt being sold in the coming days.
The marketing material does not acknowledge an $8 billion structural budget deficit and a more than $2 billion deficit in the State’s Unemployment Compensation Fund that have been estimated by the nonpartisan Office of Legislative Services. The marketing material also does not acknowledge that revenue collections through yesterday suggest a continuing slide in sales tax collections that could erode the State surplus for the current year.
Senator Joe Kyrillos, a member of the Senate Economic Growth Committee, called on the Corzine Administration to reconsider its opposition to Republican proposals to revive New Jersey’s economy in light of the State’s rising unemployment rate, which is the worst in the region.
Corzine Administration Claims Negative Rating Agency Action Is Good For New Jersey
Senate Republican Leader Tom Kean (R-Union) expressed absolute disbelief today that Governor Corzine’s administration issued a press release claiming it was a good thing that Moodys Investors Services placed New Jersey’s credit rating on negative outlook. In a press release, the Corzine administration is quoted as saying, “The affirmation of New Jersey’s credit rating by the agencies is a sign of confidence in Governor Corzine’s overall handling of fiscal matters in these historically challenging economic times.”
Joins Colleagues’ Call for Immediate Action to Address $8 Billion Deficit and Economic Growth
Senator Joseph M. Kyrillos, Jr. (R-Monmouth), the senior member of the Senate Economic Growth Committee, joined his colleagues in calling for the Senate Budget Committee to end its summer break and immediately convene in light of a pending $8 billion structural deficit and a new rating agency threat to downgrade the State’s credit rating. A lower credit rating will make everything from road construction to open space acquisitions more expensive and hasten the pending insolvency of the Transportation Trust Fund.
The Republican members of the Senate Budget and Appropriations Committee issued the following statements regarding published reports that New Jersey’s credit outlook has been put on “negative” outlook by Moody’s Investors Services. The Republican members of the Budget and Appropriations Committee are Republican Budget Officer Anthony Bucco, Senator Kevin O’Toole, Senator Steve Oroho, Senator Phil Haines, Senator Joe Pennacchio and Senator Marcia Karrow.
9th District Legislators Urge DOT to Pursue Alternative Location Other than Property of Local Business Establishment
Senator Christopher J. Connors and Assemblyman Brian Rumpf today issued a letter to the New Jersey Department of Transportation (DOT) urging that an alternative site be explored for a planned spillway project other than the currently eyed site, which is on property belonging to the Stewart’s Root Beer Drive-In establishment, located on Route 9 in Tuckerton Borough.
Lawmakers Drafting Legislation to Begin Expulsion of Arrested Assemblymen and Urge Legislature to Convene Immediately
Saying the suspension of pay and benefits of the assemblymen arrested on corruption charges is a good but insufficient step, Assembly members Dawn Marie Addiego and Scott Rudder today urged Assembly Speaker Joseph J. Roberts Jr. to convene a special session of the Legislature to begin the process of expelling Assemblymen L. Harvey Smith and Joseph Vas.
“The Ethics Problems That Occurred, We Have All the Laws We Need.” Governor Jon Corzine, July 31, 2009 on Millennium Radio
In response to Governor Corzine’s shocking statement reported today that New Jersey’s laws are fine just the way they are and don’t need reform and change to help stem New Jersey’s worst-in-the-nation corruption problem, Senator Kevin O’Toole (R – Essex and Bergen) released the following comment.
Senator Jennifer Beck, Assemblyman Declan O’Scanlon and Assemblywoman Caroline Casagrande are pleased to announce the signing into law of S-2792/A-3879, which will decrease the number of annual race dates at both the Meadowlands Racetrack and Freehold Raceway, thus increasing the amount that can be offered in their purses.