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Senator Tom Kean

Kean Statement on Selection of Muoio as State Treasurer

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Senate Republican Leader Tom Kean issued the following statement on the selection of Assemblywoman Elizabeth Muoio to serve as State Treasurer by Governor-elect Phil Murphy:

Statement from Sen. Tom Kean on the selection of Asw. Elizabeth Muoio to serve as State Treasurer by Gov.-elect Murphy. (SenateNJ.com)

“Senate Republicans look forward to the confirmation process when we will have the opportunity to review Assemblywoman Muoio’s nomination as State Treasurer.

“I expect our members will examine the extent to which she is prepared to manage the State’s cash flow, finances, and $35 billion budget.”

Senator Joe Pennacchio

Pennacchio: Hack of PSE&G Customer Data Shows Need for Credit Report Legislation

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Bill Would Allow Consumers Three Free Credit Reports Annually to Monitor Impact of Data Breaches

Senator Joe Pennacchio (R-26) said that news of a new hack that may have compromised the data of millions of New Jerseyans served by PSE&G, the state’s largest electricity provider, highlights the need for his legislation to provide consumers with more free credit reports annually.

Pennacchio: Hack of PSE&G Customer Data Shows Need for Credit Report Legislation (©iStock)

“New Jersey consumers cannot afford to wait a year to see what their credit report is,” said Pennacchio. “Recent evidence of a hack of the state’s largest utility signifies the importance of having more consumer protections in place. Allowing customers to be in the financial know-how can reduce and prevent security breaches in the future.”

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Senator Joe Pennacchio

Two Decades Too Long: NJ Property Taxes Have Doubled Since $10k Deduction Enacted

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Pennacchio Says Important Form of Property Tax Relief Has Failed to Keep Up

Senator Joe Pennacchio called on incoming governor Murphy to eliminate New Jersey’s $10,000 property tax deduction cap, highlighting the massive growth in property taxes since the limit was put in place in 1996.

Pennacchio: NJ Property Taxes Have Doubled Since $10k Deduction Enacted (SenateNJ.com)

“The $10,000 cap was imposed over two decades ago when homeowners’ tax bills were less than half of what they are today,” said Pennacchio. “This important form of property tax relief has failed to keep up with the times and we need to fix it.”

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Senator Diane Allen

Allen Bill Dedicating Second Week of May as “Week of the Military Woman” Advances

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Senator Diane Allen’s (R- Burlington) legislation dedicating a week in May to honor women who have served in the United States Armed Forces has been approved by the Senate Military and Veteran Affairs Committee.

Sen. Diane Allen’s legislation dedicating a week to honor women who have served in the Armed Forces has been approved by the Military and Veteran Affairs Committee. (U.S. Navy)

“From the Revolutionary War through today’s War on Terror, women have played a critical role in defending America’s freedom,” said Senator Allen. “’Week of the Military Woman’ aims to pay homage to all women who have heroically served our country in both war and peace.”

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Senator Diane Allen

Allen Legislation Prohibiting Pension Fund Investments in Superfund Shirkers Advances

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Senator Diane Allen’s legislation prohibiting investments by State pension funds in businesses that have shirked their responsibility to clean up Superfund sites in New Jersey has been approved by the Senate State Government Committee.

View of the Passaic River from the Diamond Alkali Superfund Site in Newark, NJ. (Flickr)

“A business that has profited from polluting New Jersey’s environment and refuses its Superfund cleanup responsibilities shouldn’t be rewarded with the investment of State pension funds,” said Allen (R-Burlington). “There must be consequences to hold these bad corporate actors accountable.”

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Senator Tom Kean

Kean Legislation to Study Migration of NJ’s High School Graduates to Out-of-State Colleges Passes Committee

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Garden State Is Nation’s Top Exporter of College-Bound Students

The Senate Higher Education Committee has approved legislation by Senate Republican Leader Tom Kean to study why so many New Jersey high school graduates choose to attend college in other states.

Senate Republican Leader Tom Kean’s bill directs the NJ Secretary of Higher Education to study why so many NJ high school graduates choose to attend college in other states. (SenateNJ.com)

“New Jersey has more high school graduates head to out-of-state colleges than any other state in the nation,” said Kean, a member of the committee. “Many never return home after college to strengthen our workforce, build our economy, or to make civic contributions to our communities. This brain drain is a real loss to the Garden State, and it’s something that we must understand better to reverse.”

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Senator Bob Singer

Singer’s Legislation Helping College Students Save Time and Money Passes Committee

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Senator Robert Singer’s (R-Ocean, Monmouth) bill to save college students time and money through new credit transfer agreements between New Jersey and other states’ public institutions of higher education passed the Senate Higher Education Committee.

Sen. Robert Singer’s bill to save college students time and money through new credit transfer agreements passed the Senate Higher Education Committee. (©iStock)

“Affording a college degree today is an economic burden,” said Senator Singer. “Allowing college credits from public institutions to transfer across state lines is a practical and overdue solution to reducing higher education expenses.”

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District 10

Holzapfel, Wolfe & McGuckin Bill Permitting Tax Exemption for Improvements to Sandy-Damaged Homes Passes Senate

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A Superstorm Sandy-related bill to permit a short-term tax exemption for improvements to certain homes damaged by natural disasters received the unanimous approval of the New Jersey Senate at a recent voting session.

Legislation by Holzapfel, Wolfe, and McGuckin would allow municipalities to provide short-term tax exemptions for home improvements in areas damaged by natural disasters. (Wikimedia Commons)

The sponsors, Senator James Holzapfel and Assemblymen Dave Wolfe and Greg McGuckin, introduced the bill to ensure that property taxpayers aren’t penalized for increased value that may arise from raising their homes.

“Residents had no choice but to rebuild following Superstorm Sandy,” said Holzapfel. “They shouldn’t be penalized with higher property taxes for necessary improvements that will offer protection from future storms.”

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Senator Anthony Bucco
Senator Joe Pennacchio
Senator Steve Oroho

Bucco/Oroho/Pennacchio ‘Lake Hopatcong Fund’ Approved by Senate

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Legislation sponsored by Sens. Anthony Bucco, Steven Oroho and Joe Pennacchio to establish the “Lake Hopatcong Fund” has been approved by the New Jersey Senate.

Sens. Anthony Bucco, Steven Oroho and Joe Pennacchio sponsor legislation to establish “The Lake Hopatcong Fund,” which would dedicate $500,000 annually to preserve and maintain the lake. (Lake Hopatcong Foundation)

The measure, S-2389, dedicates $500,000 annually to the “Lake Hoptacong Fund” for the protection, preservation, restoration, maintenance, management and enhancement of New Jersey’s largest state-run lake. The funds would come from license fees required to operate power boats on nontidal waters.

“Lake Hopatcong brings in millions in revenue for the state each year,” Senator Bucco (R-Morris, Somerset) said. “Our economy will suffer if we don’t find a stable way to pay for annual weed harvesting and stormwater management. We shouldn’t have to scramble every year to find the money we need to keep boaters and swimmers safe. I believe that our bill is a fiscally-responsible solution to this problem. I will continue to do everything I can to get it signed into law.”

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Senator Joe Pennacchio

Pennacchio Reiterates Call for Elimination of $10k Property Tax Deduction Cap

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During a New Jersey Senate session today, Sen. Joe Pennacchio (R-Essex, Morris, Passaic) reiterated his proposal to abolish New Jersey’s $10,000 property tax deduction limit. He made the following statement on the Senate floor:

“I, too, want to lend my name to the chorus of opposition to the removal of SALT deductions from our Federal tax returns. But at this point, it seems all we are doing is complaining. However, we do have comparable issues with non-deductibility of Federal taxes from our State returns. There are a myriad of deductions that New Jersey does not allow, such as charitable deductions, capital gains, and 401(k) contributions.

Sen. Joe Pennacchio reiterated his proposal to abolish New Jersey’s $10,000 cap on its property tax deduction. (Flickr)

“The U.S. House of Representatives version of tax reform allows a $10,000 deduction for property taxes. Currently, there is no maximum. Unfortunately, there is a maximum on what our state allows us to deduct. New Jersey’s tax burden, I may add, is the highest in the nation. That deduction is no different than what Congress is proposing – a $10,000 maximum!

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Republican Senators

Tom Kean

District 21 - Republican Leader

Diane Allen

District 7

Kip Bateman

District 16

Jennifer Beck

District 11

Anthony Bucco

District 25

Gerald Cardinale

District 39

Kristin Corrado

District 40

Michael Doherty

District 23

Jim Holzapfel

District 10

Joe Kyrillos

District 13

Steven Oroho

District 24

Joe Pennacchio

District 26

Robert Singer

District 30

Samuel Thompson

District 12

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