NJ Senate Democrats' Budget Plan Has Full Pension Payment

Wednesday, 18 Jun 2014 04:00 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
New Jersey Senate Democrats proposed a rival to Gov. Chris Christie’s budget plan that would make a full pension payment while raising taxes on corporations and the wealthy.

The proposal sets up a showdown with Christie, a second- term Republican who has proposed cutting $2.5 billion of pension contributions this year and next to make up for a revenue shortfall. Christie also has rejected Democratic lawmakers’ past efforts to increase taxes.

“This is a reasonable way to move forward and present a budget that meets all of our obligations,” Sweeney, a West Deptford Democrat, told reporters in Trenton today.

Sweeney said the higher taxes would raise $1.57 billion. He said his proposal comes from just the Senate, not the Assembly, and that he hasn’t submitted it yet to the governor’s office.

Lawmakers and Christie must pass a budget by July 1, the start of the fiscal year. Democrats control both houses of the legislature. Without a spending plan in place, state government may face a shutdown.

Kevin Roberts, a spokesman for Christie, said he hasn’t seen Sweeney’s budget proposal and referred to comments the governor made about the budget earlier this week.

“I am not going to raise taxes on the people of New Jersey to pay for a broken, bloated pension system and a Cadillac health-care system,” Christie, 51, said in a radio interview.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

CNN's Cuomo Slams Russia Today Journalist for Crash Coverage

Wednesday, 23 Jul 2014 12:07 PM

CNN's Chris Cuomo slammed a journalist of Russia Today, the Kremlin-funded television network, for attempting to distanc . . .

Senate Democrats Prep $2.7 Billion Bill for Immigration Crisis

Wednesday, 23 Jul 2014 11:09 AM

Senate Democrats are embarking on legislation for a $2.7 billion package that would address the illegal immigration cris . . .

New Rules Coming for Opting Out of Contraceptive Coverage

Wednesday, 23 Jul 2014 10:13 AM

On the heels of the Supreme Court's temporary order allowing faith-based universities and charities to opt out of provid . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved