Post by novillero on Jan 14, 2009 14:31:35 GMT -5
Corzine to NJ mayors: Expect less from stateTHE ASSOCIATED PRESS • January 14, 2009
TRENTON — Gov. Jon S. Corzine says the amount of aid the state funnels to towns and schools will almost certainly shrink in the next budgetary year.
Corzine told a group of mayors today that he'll be hard-pressed to sustain aid to municipalities, schools, and perhaps hospitals and higher education for the fiscal year that starts July 1.
The governor says he won't know how much less aid there will be for towns until the state gets a better idea of how much tax revenue it's lost because of the recession.
Corzine is urging the Legislature to approve his proposal allowing towns to defer this year's contribution to the state worker pension fund, which would save them $540 million.
The move is meant to stave off huge property tax increases.
The proposal was pulled from the Senate agenda last month after it became clear it didn't have enough votes to pass. But the Senate's expected to take it up again before the Assembly considers the bill.
www.app.com/article/20090114/NEWS/90114046/-1/nletter04?source=nletter-breakingnews
TRENTON — Gov. Jon S. Corzine says the amount of aid the state funnels to towns and schools will almost certainly shrink in the next budgetary year.
Corzine told a group of mayors today that he'll be hard-pressed to sustain aid to municipalities, schools, and perhaps hospitals and higher education for the fiscal year that starts July 1.
The governor says he won't know how much less aid there will be for towns until the state gets a better idea of how much tax revenue it's lost because of the recession.
Corzine is urging the Legislature to approve his proposal allowing towns to defer this year's contribution to the state worker pension fund, which would save them $540 million.
The move is meant to stave off huge property tax increases.
The proposal was pulled from the Senate agenda last month after it became clear it didn't have enough votes to pass. But the Senate's expected to take it up again before the Assembly considers the bill.
www.app.com/article/20090114/NEWS/90114046/-1/nletter04?source=nletter-breakingnews