Monday, July 02, 2012
CODEY STATEMENT ON GOV. CHRISTIE’S CALL FOR TAX RELIEF
Says 'Governor Would Have Been Better Served by Attending Etiquette and Manners Class with Alec Baldwin'
TRENTON – Former Governor Richard J. Codey, D-Essex, issued the following statement today in regards to Governor Christie’s address to the Legislature, in which he called on legislators to pass a bill to provide a tax cut for hard-hit New Jerseyans:
“The Governor gets a C- on today’s speech to the Legislature for not admitting to the public that his first two budgets were downgraded, costing the people of New Jersey more money, and that this year’s budget is under watch, and the fact that the last budget was a billion dollars in the hole. He gets partial credit for at least admitting that middle class taxpayers are hurting under some of the highest property taxes around – in fact, they are paying 20 percent more out-of-pocket because of this Governor’s policies – but ultimately, his failure to admit that his last two budgets have been bad for New Jersey results in lower marks.
“The truth is that this Governor’s first two budgets have triggered bond downgrades from the major bond rating agencies – resulting in added costs to New Jersey taxpayers. His last budget, which ended three days ago, was more than a billion dollars in deficit because of this Governor’s failure to use realistic revenue projections. And as a result of this Governor’s unrealistic revenues this time around, we are once again under watch from the major bond rating agencies, and may once again see a downgrade as a result of risky fiscal policy.
“The truth is that this Governor’s fiscal shenanigans have cost the taxpayers of New Jersey far more than they’ll receive in the first year of the proposed property tax break.
“The Governor probably would have been better served with his time in going with Alec Baldwin to take a class on etiquette and manners than in addressing the Legislature. The Legislature is taking the prudent course in budgeting for a tax break, but waiting to see if the revenue numbers would support it moving forward.”