Press Release
Senator Steve Oroho Senator Steve Oroho (R-24)
Home | Facebook | Twitter
Contact: Brad Schnure / (609) 847-3600
October 29, 2021
Oroho Concerned by Murphy Administration’s Slow Pace on Debt Retirement

Like This on Facebook  Tweet This

Senate Republican Budget Officer Steven Oroho (R-24) expressed concern with the slow pace taken by the Murphy administration to retire State debt in response to the first public meeting today of Treasury officials to discuss repayment options:

Senate Republican Budget Officer Steven Oroho expressed concern with the slow pace taken by the Murphy administration to retire State debt. (©iStock)

“It’s extremely disturbing that it’s taken Governor Murphy a year to begin discussing ways to retire debt after his administration admitted it borrowed $4.5 billion unnecessarily last fall without voter approval.

“Instead of taking quick action to wipe debt off the books as instructed by the Legislature in June, the Murphy administration has delayed action for months at a cost of millions of dollars. We’re extremely concerned that the governor only has plans to retire a fraction of the unnecessary debt he issued.

“Every dollar Governor Murphy continues to waste on interest payments on debt he has failed to retire is a dollar that’s not available to help New Jerseyans struggling to recover from the pandemic.”

Related Facebook Post:
https://www.facebook.com/steveoroho/posts/302712765003373

Related Tweet:
https://twitter.com/stevenoroho/status/1454184258218627086

Website Post:
https://www.senatenj.com/index.php/oroho/oroho-concerned-by-murphy-administrations-slow-pace-on-debt-retirement/54811