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NJ tax collections lag amid hints of an improving economy

September numbers are down from last year as state recoils from COVID-19 shutdown

By John Reitmeyer, NJSpotlight

New Jersey tax collections continue to trail last year’s despite some continued signs of an improving economic outlook.

Read the rest of this entry » Posted: October 16th, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget | Tags: , , | No Comments »

New Jersey budget will see more tax increases, more borrowing

Lawmakers push plan that borrows more than Gov. Phil Murphy wanted. Votes planned for Tuesday

By John Reitmeyer, NJSpotlight

State lawmakers are planning to send Gov. Phil Murphy a budget bill later this week that calls for even more spending and borrowing than he originally asked for.

The first votes on a $32.7 billion spending bill formally introduced by lawmakers on Monday are scheduled to be held Tuesday afternoon in budget committees in the Assembly and Senate.

Also scheduled for committee review on Tuesday are a series of tax hikes proposed to back up the Legislature’s spending bill.

Read the rest of this entry » Posted: September 22nd, 2020 | Author: | Filed under: New Jersey, New Jersey State Budget | Tags: , , | 1 Comment »

This is how Murphy’s budget allocates $2.4 billion in federal COVID funding

Some lawmakers and state-funded organizations worry what will happen when that money is gone

By Lilo H. Stainton, NJSpotlight

For six months the coronavirus pandemic has loomed large over New Jersey, taking an enormous toll on the state’s public health and economy, and affecting nearly every aspect of daily life.

But you won’t find it by name in Gov. Phil Murphy’s $32.4 billion budget proposal.

Read the rest of this entry » Posted: September 21st, 2020 | Author: | Filed under: COVID-19, New Jersey, New Jersey State Budget, Phil Murphy | Tags: , , , , | Comments Off on This is how Murphy’s budget allocates $2.4 billion in federal COVID funding

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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