November 13, 2008

	REPUBLICANS ON APPROPRIATIONS PANEL OFFER AMENDMENT TO BEGIN SLASHING STATE SPENDING SEEK TO OFFSET NEW COSTS AS STATE FACES $1.2 BILLION REVENUE SHORTFALL

The Republican members of the Assembly Appropriations Committee today offered a legislative amendment cutting nearly $70 million from the current state budget to help cover the new costs associated with the Governor’s economic stimulus proposal and to begin addressing a massive budget shortfall now being projected by the Corzine administration.

“With the news that our state is facing a current year budget deficit of $1.2 billion we need to begin making spending cuts immediately,” said Assemblywoman Dawn Marie Addiego, R-Burlington. “Years of runaway spending are catching up with us and it is time to put an end to Trenton’s spending spree. While supporting our most vulnerable citizens is a worthwhile goal, we need to accompany that assistance with cuts to other areas of the budget so that we are not adding to this deficit.”

The amendment offered by Republicans proposes budget cuts of $69.533 million with reductions in the Special Municipal Aid fund, administrative salaries, compensation for members of part-time administrative boards, excessive procurement costs and special aid for four county prosecutors offices.

These cuts are proposed to offset the added cost of a series of economic assistance bills on the agenda today including foreclosure assistance and supplemental appropriations for food, energy and legal aid assistance for low-income residents.

“Governor Corzine has already begun to threaten cuts to property tax relief programs in order to balance next year’s budget,” said Assemblyman Richard Merkt, R-Morris. “The responsible approach is not to add to the tax burden of our residents but instead to go through this budget line item by line item and remove any spending items that are not essential or have been identified as wasteful.”

“Not only is it prudent to reduce state spending, it is a fiscal necessity,” said Assemblyman Sam Thompson, R-Middlesex and Monmouth. “The current financial crisis makes it imperative that we tighten our belts and bear up to the reality that we cannot sustain the expenditures that were in the original budget.”

“Difficult times require tough choices,” said Assemblyman Michael Doherty, R-Warren and Hunterdon. “Accordingly, we must exercise fiscal restraint and put the brakes on unnecessary spending. If we delay making the hard choices now, it will only make matters worse as the crisis continues.”