Could Save Taxpayers $140 Million a Year
Senator Joe Pennacchio (R-26) is answering Governor Corzine’s call to find cuts in state spending, as opposed to increasing tolls, in order to balance the budget and pay down state debt. Senator Pennacchio is calling on the Governor to use his constitutional authority to roll back the recent increases in Abbott District funding.
“The recent school funding ‘reform’ legislation that was hastily passed, without adequate debate or discussion, awards 11 Abbott and rim districts an increase of more than 2%,” stated Pennacchio. “These districts have been receiving large aid increases every year for the past six years and they do not need another excessive increase this year.”
Under the state’s current budget, $4.4 billion dollars is spent for the 31 Abbott districts, while providing only $3.3 billion for the remaining 618 districts.
“If Governor Corzine is serious about identifying and cutting wasteful spending we need to take a hard look at Abbott District funding, which comprises the largest portion of the $8 billion the state spends on education,” concluded Pennacchio. “Ultimately, we need to devise a school funding distribution formula that is reasonable and fair to taxpayers while preparing all New Jersey children for a successful future.
“This is the fourth suggestion Senator Pennacchio has suggested since Monday to trim state spending. The other three suggestions include eliminating special municipal aid, ending Christmas tree spending and eliminating political patronage positions. If all four suggestions are implemented, it could save taxpayers nearly half a billion dollars a year.
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January 30, 2008
