Saturday, July 24, 2010

Christie Vetoes Spending Bills

Citing the unprecedented economic and fiscal difficulties faced by New Jersey, Governor Chris Christie yesterday vetoed Senate Bills 2134 and 2139 and Assembly Bill 1678. These bills ignore current economic realities, as evidenced by the $11 billion shortfall in the FY 2011 budget, and would add millions of dollars in unbudgeted additional state spending.
In vetoing the bills, Governor Christie noted that the State of New Jersey continues to confront historic economic and fiscal crises and that these bills add $132 million in State spending that was not accounted for in the Budget nor envisioned as part of the bipartisan agreement on a spending plan. Governor Christie wrote in the veto message to the Legislature, "state spending has been reset to levels the taxpayers can afford and supplemental spending that would return to the unchecked spending and out of control budget shortfalls of the past will not make it past the Governor's desk."
Even after closing a $2.2 billion shortfall in the FY 2010 budget and an $11 billion budget deficit in the FY 2011 budget, New Jersey continues to face long-standing, structural difficulties in its finances that require continued fiscal restraint and additional reforms. Governor Christie will continue to demand fiscal responsibility and accountability in government and advocate for the necessary reforms to put New Jersey on a stable financial foundation in the long run. Continuing to make unsupportable expenditures will only take New Jersey backwards and follow the same, irresponsible path of the past that led the State to the fiscal crisis we have only recently begun to overcome.

No comments: