southsider2k5 Posted July 5, 2006 Share Posted July 5, 2006 http://abcnews.go.com/US/wireStory?id=2154540 Link to comment Share on other sites More sharing options...
Rex Kickass Posted July 5, 2006 Share Posted July 5, 2006 This is one f***ed up story. A lot of infighting between the Assembly and the Governor over the budget. The Governor is insisting on not borrowing to close a 4 billion dollar deficit. He's asked for a 1 cent increase in sales tax, coupled with 2 billion dollars in spending cuts. The Assembly has said no to that, and would rather increase taxes on people making between 200K-500K a year. But hasn't actually produced a budget that balances the budget without borrowing. (New Jersey is constitutionally bound to have a balanced budget.) Both sides are Democrat. Corzine is basically ruining his political ratings and potentially costing his party's majority in the state houses by letting things go this far - but the more I've seen him since the election, the more I realize he couldn't give a crap about elections... but just wants to do the right thing. Link to comment Share on other sites More sharing options...
WCSox Posted July 5, 2006 Share Posted July 5, 2006 What an awful situation. I hope that the two sides can reach some sort of a compromise. Link to comment Share on other sites More sharing options...
jasonxctf Posted July 5, 2006 Share Posted July 5, 2006 reminds me of the federal govt situation a few years ago. just like clinton, corzine needs to remind the assembly who the boss truly is. it's a game of chicken... who'll blink first. if he caves on this issue, he'll be walked on for the remainder of his term. hopefully the folks in NJ realize that he is doing what's truly best for the state. Link to comment Share on other sites More sharing options...
StrangeSox Posted July 5, 2006 Share Posted July 5, 2006 Won't the casinos being closed hurt tax revenues even more? Link to comment Share on other sites More sharing options...
southsider2k5 Posted July 5, 2006 Author Share Posted July 5, 2006 QUOTE(StrangeSox @ Jul 5, 2006 -> 11:06 AM) Won't the casinos being closed hurt tax revenues even more? To the tune of about $2 million a day IIRC. Link to comment Share on other sites More sharing options...
Queen Prawn Posted July 5, 2006 Share Posted July 5, 2006 What is the going thoughts on when this will be settled? Link to comment Share on other sites More sharing options...
Rex Kickass Posted July 5, 2006 Share Posted July 5, 2006 1.3 million is what I've heard. The assembly hasn't passed a single budget, and Corzine has offered three compromises in three days. He forced them to stay in session all day yesterday. Link to comment Share on other sites More sharing options...
Steff Posted July 6, 2006 Share Posted July 6, 2006 Apparently they have reached a deal.. TRENTON, N.J. - New Jersey leaders agreed on a state budget Thursday following a six-day government shutdown that shuttered casinos and threw more than 80,000 people out of work, a high-ranking Statehouse official said. "They'll be announcing the final elements later this afternoon," said the official, who spoke on condition of anonymity because the governor will announce the deal. The deal includes a sales tax increase that would raise $1.1 billion a year, a different high-ranking Statehouse official said, speaking on condition of anonymity. Half of the new money would be used to lower property taxes this year, and all of it would go for that purpose next year, the official said. The deal came after a midday meeting between top legislative leaders and Gov. Jon S. Corzine, who has repeatedly urged them to compromise to close the state's $4.5 billion budget gap. He ordered state offices shut down Saturday after the lawmakers failed to pass a budget by the July 1 deadline. All non-essential state government operations closed, and he furloughed more than half the state's employees. Among the 45,000 state workers off the job were state gambling inspectors; without the gambling inspectors, Atlantic City's 12 casinos had to shut their doors Wednesday, putting 36,000 casino employees out of work. State parks and beaches also were closed Wednesday because of the lack of staff. Only about 36,000 people in vital roles such as child welfare, state police and mental hospitals remained on the job, and they were working without pay. Under the deal, the sales tax will increase from 6 percent to 7 percent. Democrats who control the state Assembly had opposed the tax increase, estimated to cost the average New Jersey family $275 per year. Link to comment Share on other sites More sharing options...
samclemens Posted July 7, 2006 Share Posted July 7, 2006 new jersey is the armpit of new york. Link to comment Share on other sites More sharing options...
Rex Kickass Posted July 7, 2006 Share Posted July 7, 2006 No that's Staten Island. Link to comment Share on other sites More sharing options...
kapkomet Posted July 7, 2006 Share Posted July 7, 2006 QUOTE(Rex Kickass @ Jul 7, 2006 -> 02:50 PM) No that's Staten Island. ZING! Link to comment Share on other sites More sharing options...
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