June 30, 2008

DeCROCE: CORZINE SIGNS BUDGET THAT HURTS PROPERTY TAXPAYERS, MAY LEAD TO TOLL HIKES GOVERNOR MISSED OPPORTUNITY TO LINE-ITEM VETO UNNECESSARY SPENDING ITEMS

Assembly Republican Leader Alex DeCroce today expressed his disappointment that Governor Corzine made no significant spending reductions to the budget he signed into law this afternoon and noted that the spending plan will result in higher property tax bills for most of the state’s residents.

“This is a budget that shifts costs from state government to local government, and that will lead to higher property taxes for families already struggling to make ends meet,” said DeCroce, R-Morris and Passaic. “Cutting municipal aid and scaling back property tax relief will only make this state less affordable for middle class families.”

Corzine today signed a $32.9 billion budget that includes a nearly $130 million cut in aid to municipalities that will result in significant property tax increases for most towns. The budget also either eliminates or reduces property tax rebates for all families with household incomes above $100,000.

Republicans had offered a plan to eliminate $1.32 billion in wasteful or unnecessary spending and to use those savings to restore property tax relief, municipal aid, funding for hospitals, college tuition aid for students and to finance the state’s transportation needs without gas tax or toll hikes.

DeCroce noted that by failing to dedicate additional funding in this budget to transportation needs, Corzine was conceding that he may lobby for a gas tax hike or toll hike to fund state transportation projects. He suggested Corzine could have used a line-item veto power to make enough spending reductions to provide for that transportation funding.

“The Republican plan dedicated $500 million in pay-as-you go funding for transportation purposes out of the billion dollars in savings we identified,” DeCroce said. “The Corzine budget opens the door for toll hikes or gas tax hikes in the near future, at a time when New Jersey motorists can least afford them.”