DEMOCRATIC BUDGET MAKES FULL PENSION PAYMENT, INCREASES FUNDING FOR VITAL NEEDS
From the New Jersey Legislative Democrats, June 22, 2015
TRENTON– New Jersey’s Democratic legislative leadership on Monday announced that their $35.3 billion budget would fully fund the legally required pension payment, restore the Earned Income Tax Credit and invest in higher education, healthcare, social services, schools and cities
“This is a budget that projects our values by protecting the middle class and the working poor, investing in higher education, and providing for the needs of the most vulnerable in our society,” said Senate President Steve Sweeney (D-Gloucester). “We are keeping our promise to make the full pension payment required by law and doing all that we can to restore the pension system to fiscal solvency, not only to protect the pensions of those who have earned them, but to protect the interests of taxpayers and restore confidence in the bond markets.”.
“This is a budget plan built around fiscal responsibility,” said Assembly Speaker Vincent Prieto (D-Hudson/Bergen). “We need to balance our budget and meet the state’s pension obligations, all while advocating for New Jersey’s working class residents. With this plan, we are cutting debt, meeting our obligations and protecting core values such as health care for women, quality education, tax relief for hard-working families, job creation and tax fairness for everyone.”