Monday, June 25, 2012

Pennacchio To Christie: Use Red Pen On Dem Budget

New Jersey State Senator Joe Pennacchio (R- Morris), a member of the Senate Budget and Appropriations Committee, issued the following statement on today's passage of S-2013, the Democrat sponsored budget for Fiscal Year 2013:

Once again New Jersey Democrats have relegated taxpayers to "orphan" status. This budget recognizes the needs of many people who walk the halls of the State House, but not the taxpayers in Trenton.

No sooner had the Governor introduced his proposed budget for the upcoming fiscal year than the Democrats began attacking his revenue projections. We now know those protests to be empty, hollow arguments because those very same Democrats kept the Governor's projections in their own budget bill so they could spend all the money- with the exception of funds earmarked for a tax cut.

We are being told this budget has put aside $180 million for the tax cut "just in case", but there is no tax cut as of today in this budget. The taxpayers are being asked to wait and see.

Budget Committee testimony reveals the Majority relies on lapses of unused spending accounts for the current year, lapses which the Democrats' budget uses to fund spending on their priorities and which based on historical trends could actually reach $600 million. Coupled with a $300 million fund balance or "surplus" and the $180 million set-aside, there is plenty of available funding to pay for a tax cut if it were actually a priority for the Democrats and they were willing to forgo a relatively modest amount of spending.

The Governor thought an announced Democrat tax cut deal had been reached only to have it taken off the table more quickly than it was put on. Once again, all the taxpayers get with this budget is the bill for more spending- no relief of their own.

I urge the Governor to re-prioritize this budget, use his red pen, and put the taxpayers first.

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