If the Legislature’s Democratic majorities produce a budget that does not spend more than Governor Jon Corzine has proposed, Republicans could well end up supporting it. If not, however, expect a spirited debate when it is brought up for a vote in June. This scenario was discussed during NJBIA’s April 15 Meet the Legislative Leaders program, where Assembly Majority Leader Bonnie Watson Coleman, Senate Republican Leader Tom Kean and Assembly Republican Leader Alex DeCroce offered their ideas and took questions from about 120 NJBIA members.
“We have a budget that is controversial,” DeCroce said, referring to Governor Jon Corzine’s proposed spending plan. “Will we support it? We will support it as long as it maintains the cuts (Corzine) has proposed.”
Watson Coleman said that was just what the Assembly Democrats intended to do, even though they may not necessarily make the same cuts proposed by the Governor. “We will have a budget consistent with what the Governor has proposed,” she said.
If the Democrats do try to increase spending, however, Republicans would not support them, Kean said, adding: “We will not support a budget that spends more than what the Governor proposes, and, in fact, we want to spend less.”
Watson Coleman also assured the audience that the Legislature would move quickly to shore up the Unemployment Insurance Trust fund with a $260 million appropriation. The move is designed to avoid an automatic $350 million payroll tax increase for employers that would otherwise be triggered on July 1, 2008 because of a drop in the fund’s balance. “This shows we are serious about supporting business,” she said.
The New
Jersey Business & Industry Association Thanks its
2008 Meet the Legislative Leaders Sponsors
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