6/4/19-No Fast Enactment by NJ of Measures on Energy Efficiency

No Fast Enactment by NJ of Measures on Energy Efficiency

May 39, 2019 | njspotlight.com 

Analysis that was expected to underpin state’s implementation of clean-energy law now to be examined by BPU advisory group.

NJ SEED: Having expressed concern about quickly embracing the recommendations of consultant Optimal Energy, we are pleased to note that the BPU is establishing an advisory group to help review the recommendations to assist in implementing the Clean-Energy Act

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6/4/19-Shutdown Looks More Likely as Top Democrats Continue Feuding

Shutdown Looks More Likely as Top Democrats Continue Feuding

June 3, 2019 | njspotlight.com 

Another day, another disagreement for New Jersey’s top Democrats. Gov. Phil Murphy held a roundtable at St. Joseph’s Hospital, Paterson on his administration’s effort to preserve Obamacare by creating a state-run healthcare exchange. But afterward he took time to snap back at Senate President Steve Sweeney for suggesting the governor would shut down state government if he didn’t get a budget with a boosted millionaires tax.

NJ SEED: In a legislative election year, State Senators and Assembly members are reluctant to raise taxes, even on “the guy behind the tree”. Years ago the legislature stopped the clocks in the chambers at 11:55 pm on June 30 and continued working until budget issues were resolved. The court eventually ruled against that practice so now the citizens must bear the costs and state employees face disruption of government shutdowns if agreement can’t be reached. 

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5/29/19-The Five Sticky Budget Issues Governor and Lawmakers Must Resolve

The Five Sticky Budget Issues Governor and Lawmakers Must Resolve  

  May 28, 2019 | njspotlight.com 

The post-Memorial Day push for a new state budget begins this week in Trenton. This year, there’s added suspense given that Gov. Phil Murphy and lawmakers have yet to work out several difficult issues. The clock is ticking since they have only until June 30 to do so — and to avoid a government shutdown. Here are the five biggest issues they must resolve:  Millionaire’s tax, Property-tax relief, Surplus/rainy day fund, Benefits reform, and New Jersey Transit.

NJ SEED: The New Jersey Legislature has a long history of going to the deadline (and sometimes beyond) to resolve the state’s budget, but this year’s challenge to address five major issues suggests that legislators should be applying themselves with extra dedication to resolve these important issues.

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5/29/19-Moody’s: New Jersey’s Recession Preparedness Reserves Are Weak

Moody’s: New Jersey’s Recession Preparedness Reserves Are Weak

  May 20, 2019 | njbiz.com 

“While current economic conditions are strong, states are aware that a downturn will come eventually and are building reserves to prepare,” said Emily Raimes, vice president and senior credit officer at Moody’s, in a prepared statement. “While most states have healthy reserves and inherently strong fiscal flexibility, Illinois and New Jersey both have low levels of reserves relative to the potential revenue decline in our recession scenario.”

NJ SEED: The signal from the Moody report suggests that NJ would be wise to utilize unanticipated revenue collections to bolster the state’s Rainy Day Fund rather than seek to expand or create new entitlements.

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5/29/19-NJ Property Taxes: Is Relief on Horizon? Asbury Park Press Editorial

NJ Property Taxes: Is Relief on Horizon? Asbury Park Press Editorial

  May 17, 2019 | app.com 

State Sen. Steve Sweeney, who has emerged as Gov. Phil Murphy’s chief nemesis, has ratcheted up the resistance to Murphy’s profligate ways with a new frontal assault on the state’s fiscal mismanagement.

Sweeney, who has long been on a crusade to restore New Jersey’s financial health, recently announced he was introducing a package of 27 bills that will put Murphy and Sweeney’s fellow Democratic lawmakers squarely in the taxpayers’ cross hairs. The bills, most of which grew out of a fiscal reform task force created by Sweeney last year, are commonsense proposals aimed at reducing the cost of government, making it more efficient and lowering property taxes.

NJ SEED: Reports continue to show that New Jerseyans are moving out of the state in greater numbers than those moving in. The Sweeney proposal appears to be a step in the direction of reversing that trend.

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