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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O’Scanlon: If Pensions are on the ballot, delay TTF until after the election

Assemblyman Declan O’Scanlon, the Republican Assembly Budget Officer, said today that no New Jersey legislator can responsibly vote on a bill to replenish the state’s Transportation Trust Fund (TTF) if a constitutional amendment requiring the state to make specified annual payments to state employees pensions funds is on the ballot this November.

“No legislator from either party can cast a responsible vote on any TTF plan until we know if the disastrously flawed Democrat constitutional amendment will be on the ballot.  If the Senate Democrats irresponsibly vote to place the amendment on the ballot they are voting to put any TTF decision off until after November – at least.

O’Scanlon said that the constitutional amendment proposed by the Democratic majority has three fatal flaws:

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Christie takes aim at gas taxes, pensions, property taxes and teachers union

WHIPPANY — With the state’s Transportation Trust Fund less than three weeks away from running out of money for new road, bridge and rail projects, Gov. Chris Christie said the fix being pushed by the Democratic-controlled legislature lacked sufficient tax breaks to be signed into law. Speaking to the Morris County Chamber of Commerce on Monday,… Read the rest of this entry »

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N.J. Democrats say they’ll make good on $3.1 billion pension promise with budget

TRENTON — Democratic lawmakers on Monday are expected to reveal their plan for a state budget they say would bridge the gap between the $1.3 billion Gov. Chris Christie wants to spend on public worker pensions next year and the $3.1 billion unions are demanding. That plan likely relies on the controversial millionaires’ tax and a… Read the rest of this entry »

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N.J. pension fund earned 7.3 percent in 2014, but it remains in a big hole

TRENTON — New Jersey’s pension fund earned 7.3 percent on its investments last year, which state officials said beat market expectations. But those gains didn’t live up to the 7.9 percent annual rate experts say is needed to keep troubled pension fund from adding to its liabilities. The investments returned 7.27 percent, but were hurt largely… Read the rest of this entry »

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N.J. paying fees to firm employing Mary Pat Christie, report says

TRENTON — New Jersey has paid hundreds of thousands of dollars in fees to a Wall Street investment firm in the three years since Gov. Chris Christie said he was terminating all investments with the company, International Business Times reported today. That same firm, Angelo, Gordon & Co., hired Christie’s wife, Mary Pat Christie, as a… Read the rest of this entry »

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Moody’s: New Jersey’s Pension Funds Could Run Dry in Just 10 Years

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