Department of the Treasury Seems to Be Implementing State Auditor Recommendations
Senate Republican Budget Officer Anthony Bucco issued the following comments regarding the release of an audit of the Senior Citizens’ and Veterans’ property tax deduction programs. The audit, conducted by the Office of the State Auditor, identified “weakness in the verification of eligibility” for the two property tax relief programs in question.
Senate Republican Budget Officer Anthony Bucco made the following statement today as David Rosen, the Legislative Budget and Finance Officer, gave his mid-year update on the state budget to the Senate Budget and Appropriations Committee. Rosen’s report indicated that the budget deficit for the remaining six months of fiscal 2010 has grown to almost $2.2 billion:
The following are Senator Bucco’s opening remarks to the committee:
“We have been told that today’s hearing is being held so Dr. David Rosen, the Legislative Budget Officer, can provide us with information on the current status of the FY 2010 budget and to discuss the outlook for the upcoming FY 2011 budget. While I welcome a discussion, I don’t believe that a single person in this room is unaware that the FY 2010 budget has an imbalance of close to $2 billion and that the FY 2011 budget may have a deficit of almost $10 billion. So why are we really here today?
Senator Tony Bucco, Republican budget officer, said he was disappointed but not surprised by new Mayor Dana Redd’s decision to double the pay of some political appointees to her administration even as New Jersey faces the worst economic crisis in decades. Bucco noted that a new law approved by the Legislature on Jan. 11 greatly weakens the governor’s ability to oversee how hundreds of millions of dollars in state taxpayers’ money are being spent, leaving the governing of Camden open to the kinds of abuses for which it has become infamous. Bucco called on new legislation to restore oversight and require accountability of Camden officials.
“The new law crippled the governor’s ability to exercise oversight over the hundreds of millions of dollars of taxpayer money pumped into Camden each year,” Bucco said. “In the Senate, Democrat legislators passed this law over unanimous Republican opposition even though nearly all money spent by the city of Camden comes from state aid, not local taxes.
Senate Republican Leader Tom Kean, Senate Republican Budget Officer Tony Bucco and Senator Kevin O’Toole issued the following comments regarding the announcement by Senate President Steve Sweeney that pension and benefits reform would be a top priority.
“My colleagues and I are all-too-aware that the pensions and benefits systems are unsustainable at the current time,” Kean stated “This effort will build on the bipartisan cooperation on pension reform that was successful in the last legislative session. It is vital that we complete the process of identifying and implementing necessary reforms to ensure that rank and file employees’ retirement funds are safeguarded.”
Senate Republican Budget Officer Anthony Bucco issued the following statement regarding the Corzine Administration’s refusal, to date, to identify the promised $400 million in budget savings that were due at the beginning of the month.
“My colleagues and I are disappointed that the governor has not honored his promise to identify $400 million in additional budget savings by December 1. It is vitally important that he release this list of savings that is now more than two weeks overdue.
Four Republican senators held a news conference today to express their growing unease at the failure of Governor Jon Corzine to honestly address plunging tax collections. After refusing to update revenue figures for months, Corzine finally admitted on Monday that tax collections have missed projections by 3.1 percent so far this year. At that pace, the state will have a $1 billion revenue shortfall, adding to the $8 billion to $10 billion deficit projected for next year.
Senate Republican Budget Officer Anthony Bucco speaking about the New Jersey budget deficit on Thursday, October 22, 2009. Also pictured (from left) are Senator Joe Pennacchio, Senate Republican Leader Tom Kean and Senator Steven Oroho.
Incredibly, the governor responded with only $205 million in accounting shifts and an order to his Cabinet to find just $200 million in possible spending reductions.
New Law Bars Sex Offenders from Positions in Youth Organizations
State Senator Anthony R. Bucco is pleased to announce that Senate Bill 532, which bars certain sex offenders from positions in youth serving organizations, has been signed into law.
In the bill’s two-year history in both the Senate and the Assembly, it was voted favorably in all committees and in both Houses with no one being opposed to the bill on any level. Senator Bucco and Senator John A. Girgenti sponsored the bill together.
Shortfall Could Reach $1 Billion This Budget Year
Senate Republican Budget Officer Anthony Bucco today called on Senate Budget and Appropriations Chair Barbara Buono to reconvene the committee immediately to confront New Jersey’s declining revenue collections.
“It is imperative that the budget committees of both houses reconvene immediately in order to implement budget savings to cover this historic plunge in state revenues. At the current rate of decline, 3.1 percent, the shortfall this year could reach $1 billion.
Former Parole Board Member Pitches Cost Cutting Measures
Senator Anthony Bucco, the Senate Republican Budget Officer, issued the following statement regarding a proposal by a member of the State Parole Board that would save the agency millions of dollars.
“Governor Corzine has repeatedly promised the taxpayers of this state that he had ’scrubbed’ the budget. Sadly, it seems that many agencies, including the State Parole Board, were ignored or overlooked throughout that process.
Senate Republican Budget Officer Anthony Bucco and Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, criticized Governor Corzine for refusing to regularly update revenue numbers despite repeated requests for openness and transparency.
The governor has daily access to revenue collection figures. Senators Bucco and Oroho expressed outrage that Governor Corzine doesn’t share those numbers so that business owners, legislators and the voting public can track what’s happening during this economic crisis, as business people and residents can do in other states.
