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Gopal abstains on $10 billion borrowing bill – O’Scanlon sues to halt the borrowing

Senator O’Scanlon putting Assemblywoman DiMaso and Senator Gopal to sleep. 2018 photo by John Ward courtesy of RedBankGreen

Senator Vin Gopal did not vote on the controversial bill passed and signed into law yesterday that allows Governor Phil Murphy and four Democrat legislators to borrow up to $9.9 billion without voter approval.

New Jersey’s Constitution requires voters to approve state government debt. New Jersey’s Courts, and therefore its Democrat legislators and Governors, treat the Constitution as book of aphorisms.

UPDATED with Senator Gopal’s statement:

Read the rest of this entry » Posted: July 17th, 2020 | Author: | Filed under: Declan O'Scanlon, Monmouth County, Monmouth County News, New Jersey, New Jersey State Budget, Vin Gopal | Tags: , , , , , | 8 Comments »

$9.9B Borrowing Bill OK’d by Legislature, Signed Into Law by Gov. Phil Murphy

Ambassador Murphy and cardboard President Obama. That shirt looks familiar

Last-minute bid for changes to legislation fails; some lawmakers sought to ensure Black and Latino representation on panel that will review borrowing proposals 

By JOHN REITMEYER  , NJSpotlight

Despite passionate calls to add diversity to the process, the Legislature sent Gov. Phil Murphy legislation Thursday that gives a panel of four state lawmakers power to determine the fate of up to $9.9 billion in emergency borrowing.

Read the rest of this entry » Posted: July 17th, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: , , , | Comments Off on $9.9B Borrowing Bill OK’d by Legislature, Signed Into Law by Gov. Phil Murphy

First Detailed Look at Murphy’s Revamped $10B Emergency-Borrowing Bill

By JOHN REITMEYER , NJSpotlight

Gov. Phil Murphy wants a plan in place to borrow billions without voter approval; now legislators are ready to sign off one to make that happen. A revamped version of emergency-borrowing legislation is set to go before lawmakers for the first time Tuesday.

Read the rest of this entry » Posted: July 14th, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: , | Comments Off on First Detailed Look at Murphy’s Revamped $10B Emergency-Borrowing Bill

Measure Allowing State to Borrow Billions Clears Assembly; GOP Threatens Legal Challenge

Lawmakers vote along party lines to permit at least $5 billion in new debt to deal with economic fallout of pandemic

BY JOHN REITMEYER, NJSpotlight

Legislation that would give Gov. Phil Murphy’s administration the authority to borrow billions of dollars to help offset projected revenue losses brought on by the ongoing pandemic cleared the Assembly Thursday in a party-line vote.

Read the rest of this entry » Posted: June 5th, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: , | 1 Comment »

NJ Income Tax Filing Delayed till July 15

New Jersey is joining the federal government in extending the deadline to file and pay income taxes until July 15, according to a joint statement by Governor Phil Murphy, Senate President Steve Sweeney and Assembly Speaker Craig Coughlin. The State Budget Deadline has been postponed from June 30 to September 30.

Read the rest of this entry » Posted: April 1st, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: , , , | 1 Comment »

O’Scanlon Responds to Murphy’s Budget

Senator Declan O’Scanlon, (R-Monmouth), a member of the Senate Budget Committee, make the following remarks in response to Governor Phil Murphy’s proposed budget:

Watch O’Scanlon deliver his remarks:

“This budget won’t lift up the middle class. It will leave generations of New Jersey residents with no hope for a prosperous future.

“Even if the Governor’s rosy projections – of both revenue and savings – are accurate, we are still only a fraction of the way out of the hole we’re in.

“We can’t tax our way out of this mess. Without major reforms, it is a very real possibility that young public workers won’t even have a pension by the time they retire.

“I urge Governor Murphy to come to the table and hammer out a compromise with us. There is no other option,” Senator Declan O’Scanlon (R-Monmouth) said.

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Posted: March 5th, 2019 | Author: | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey State Budget, News, NJ Senate Republicans, Phil Murphy | Tags: , , , , , , | Comments Off on O’Scanlon Responds to Murphy’s Budget

O’Scanlon: “This is a crtical moment for our children’s future”

By Senator Declan O’Scanlon

Senator Declan O’Scanlon

So. This is what it’s come to. Incredibly, we just passed one of the largest tax increases in the history of the state…and we’re no more than one, infinitesimal, step closer to sustainable solvency than we were the day before. And trust me, we are very ($ billions) far away. We don’t need infinitesimal steps, we need bold leaps…and we need bold leadership willing to make them.

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Posted: July 28th, 2018 | Author: | Filed under: Declan O'Scanlon, Monmouth County News, New Jersey, New Jersey State Budget, Opinion, Pensions | Tags: , , , , , , | 7 Comments »

More than 75% of accountants say Murphy’s budget will do long term damage to NJ’s economy

The New Jersey Society of Certified Public Accountants surveyed its members regarding the impact New Jersey’s new state budget would have on the state’s economy.  More than 75% of the 921 CPA’s surveyed said that the budget signed by Governor Phil Muphy would have a negative impact on the economy, according to an article at NJCPA.com

Thirty-nine percent felt the economy would get “marginally worse,” and 37 percent said it would get “significantly worse.” Fourteen percent said it would have no impact, and only 10 percent said the economy would get either “marginally better” or “significantly better” under the new budget. 

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Posted: July 23rd, 2018 | Author: | Filed under: New Jersey, New Jersey State Budget, Phil Murphy | Tags: , , , , | 6 Comments »

New Jerseyans Need Tax Relief — Not More Spending and Higher Taxes

By Assemblyman Ned Thomson

Assemblyman Ned Thompson

While New Jersey narrowly avoided a second straight government shutdown, the budget agreement that was achieved at the last minute will have a serious impact on area taxpayers that will be felt for years to come.

As a member of the Assembly Budget Committee, I participated in a number of meetings and listened to hours of testimony on Gov. Phil Murphy’s proposed budget that sought to increase spending by more than 7 percent and raise taxes by $1.7 billion. Gov. Murphy and the Democrat majority in the Legislature then spent much of the spring and early part of summer arguing over which of our taxes to raise.

Never, it seems, did they consider reducing government spending nor did the conversation appear to focus on reducing the burden on some of the most overtaxed citizens in the country. In fact, during the debate, serious consideration was given to additional tax hikes, including proposals to increase the realty transfer fee and add taxes to short-term home rentals — two ideas that would have dramatically impacted Monmouth and Ocean County residents. Read the rest of this entry »

Posted: July 19th, 2018 | Author: | Filed under: Monmouth County News, New Jersey State Budget, NJ State Legislature, Opinion | Tags: , , , , | 2 Comments »

Guadagno: Murphy’s $2 billion spending increase is insane but not a surprise

Former Lt. Governor Kim Guadagno appeared on the Tommy G Show yesterday during which she said that the $2 billion in spending increases and $1.5 billion in new state taxes are insane but that no one should be surprised.

Guadagno said that moderate Democrats who are now calling for spending cuts “sound like Republicans, that’s what we’ve been saying all along!”

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Posted: July 12th, 2018 | Author: | Filed under: Kim Guadagno, Monmouth County News, New Jersey, New Jersey State Budget, Phil Murphy | Tags: , , , , | 9 Comments »