Press Release
Senator Tom Kean, Jr. Senator Tom Kean, Jr. (R-21)
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Contact: Brad Schnure / (609) 847-3600
May 3, 2018
Kean Calls for 2% State Spending Cap

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Decries Murphy’s Massive Spending Hikes as Irresponsible

In the wake of massive spending hikes proposed by Governor Phil Murphy in the upcoming 2019 State Budget, Republicans in the New Jersey Senate are calling for the passage of a constitutional amendment to limit state spending increases to two percent annually.

Sen. Tom Kean said that Senate Republicans are calling for the passage of a constitutional amendment to cap state spending increases at two percent annually. (SenateNJ.com)

Governor Murphy initially proposed an eight-percent hike in state spending and $1.7 billion in new taxes with his budget address, but his costly proposals seem to keep coming.

“Our ship is taking on water and we need to plug the hole,” Senate Republican Leader Tom Kean said. “We spent the last few years making some progress, but now Governor Murphy is wrenching the hull wide open. Republicans and Democrats in the Legislature proved that we could work together by instituting our successful two-percent cap on municipal spending, and now it’s time we do it again to cap state spending.”

Between 2010 and 2017, the two-percent cap imposed on municipal budget increases saved property taxpayers more than $18 billion. In the years prior to the imposition of the municipal spending cap, property tax increases often exceeded 7 or 8 percent annually. In 2017, with the cap in place, property tax increases statewide averaged just 1.64 percent.

“Property taxpayers have saved billions as a result of our municipal spending caps,” said Kean. “We’re seeing great success as property tax bills have begun to stabilize at the local level. If our mayors can live with a spending cap, our governor should be able to as well.”

Kean called on the Senate President to post SCR-117 for a vote. The constitutional amendment, sponsored by Senator Steven Oroho (R-24) and Senator Anthony Bucco (R-25), would establish a two-percent cap on annual appropriations increases for State government spending.

“The Senate President has talked a lot recently about his disagreements with Governor Murphy on spending and taxes,” added Kean. “He should work with us to enact a permanent fix to New Jersey’s spending problems.”

Related Facebook Post:
https://www.facebook.com/tomkeanjr/posts/10155607259043269

Related Tweet:
https://twitter.com/tomkean/status/992112375045214208

Website Post:
http://www.senatenj.com/index.php/tomkean/kean-calls-for-2-state-spending-cap/38394