Spending Must Be Cut To Solve New Jersey’s Fiscal Crisis
Senator Thomas Kean, (R-21), today announced that members of the Senate Republican caucus will refrain from voting “yes” on any bill spending state money, at least until Governor Corzine’s budget address scheduled for February 26. The caucus will define new spending bills as those with either an appropriation, necessary to effectuate the legislation, or a fiscal note identifying a known impact on the state budget.
“In Governor Corzine’s own words our ongoing fiscal crisis ‘has morphed into a financial emergency, ’” Kean stated. “The Republican Caucus has an obligation to set the example, to demonstrate to the people of New Jersey that the party of fiscal responsibility will lead the charge towards a sane budget that is accountable to the people. This obligation includes saying ‘no’ to new spending even for the most worthy of legislative goals. The people of New Jersey are speaking clearly to the Legislature and to the governor: get your own house in order before you ask for more from the over burdened toll payers and taxpayers.”
According to the non-partisan Office of Legislative Services (OLS) more than $50 million in supplemental spending was added to the Fiscal Year 2008 budget. This figure does not include the monies added to the budget during this January’s lame duck session which amount to an additional $10 to $20 million.
“We call on our colleagues on the other side of the aisle to join with us in taking a fiscal ‘time out’ on new spending,” Kean concluded.
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February 5, 2008
