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SARLO STATEMENT ON ‘OPENING DAY’ OF STATE BUDGET HEARINGS

TRENTON – Senator Paul Sarlo, the chairman of the Senate Budget and Appropriations Committee, issued the following statement today after the committee heard from the Office of Legislative Services and the State Treasurer on the fiscal and economic conditions that will shape the state’s Fiscal Year 2020 budget plan:

“This is a pivotal time for public finances in New Jersey, which makes our work on the state budget as important as ever. We face both immediate and long-term fiscal challenges that can no longer be ignored or deferred.

“There are structural financial problems that, left unaddressed, threaten to choke-off our ability to support vital services and invest in future opportunities. We can make real and lasting progress on these challenges in the upcoming budget by making cost-cutting reforms that will produce substantial savings and efficiencies.

“Current economic conditions present us with a high degree of uncertainty for state revenues, especially for the volatile and unpredictable income tax. The shortfall of income tax revenue, coupled with a reliance on a surge in April, present us with unknown economic factors that can’t be ignored. We don’t want a hoped-for ‘April surprise’ to become a springtime disappointment.

“I am also concerned that we are not prepared for a recession or even a substantial economic slowdown. A sizeable surplus will help, but the millionaires’ tax could make economic and fiscal conditions worse. An added surcharge on high income earners going into an economic slowdown is unreliable and likely counterproductive.

“The Governor has given us a budget plan that we can work with and I welcome his willingness to work cooperatively with the Legislature, including additional cost saving measures. It is now the Legislature’s responsibility to give the proposal a thorough review and put in place a fiscally responsible budget for the upcoming year.”

SCHEDULE OF COMMITTEE MEETINGS FOR FY 2020 BUDGET REVIEW

SCHEDULE OF COMMITTEE MEETINGS FOR FY 2020 BUDGET REVIEW

(Revised March 29, 2019)

All departmental budget meetings listed below will be held in Committee Room 4, 1st Floor, State House Annex, Trenton, NJ

DATE TIME MEETINGS
  MARCH 21, 2019 THURSDAY   10:00 AM     PUBLIC HEARING at New Jersey Institute of Technology, Campus Center Atrium, 150 Bleeker Street, Newark, New Jersey 07102
  MARCH 28, 2019 THURSDAY   10:00 AM     PUBLIC HEARING at Salem Community College, 460 Hollywood Avenue, Carney’s Point, New Jersey 08069
  APRIL 2, 2019 TUESDAY   10:30 AM 1:00 PM   Budget Overview and Revenue Forecast (Office of Legislative Services) Budget Overview (State Treasurer)
  *APRIL 4, 2019 THURSDAY   *10:30 AM *1:30 PM   Department of Labor and Workforce Development Department of Environmental Protection
  APRIL 9, 2019 TUESDAY   10:30 AM 2:00 PM   Department of Law and Public Safety The Judiciary
  APRIL 11, 2019 THURSDAY   10:30 AM 2:00 PM   Department of Health Department of Corrections/State Parole Board
  APRIL 16, 2019 TUESDAY   10:30 AM 1:00 PM   Department of Children and Families Department of Military and Veterans’ Affairs
  APRIL 18, 2019 THURSDAY   10:30 AM 1:00 PM 3:00 PM   Department of Education/Schools Development Authority Review of Out-Of-Network Reforms Department of Banking and Insurance
  MAY 2, 2019 THURSDAY   10:30 AM 1:00 PM 3:00 PM   Department of Community Affairs Department of Human Services/Medicaid Department of State
DATE TIME MEETINGS
  MAY 9, 2019 THURSDAY   10:30 AM 1:00 PM   Higher Educational Services Department of Transportation/New Jersey Transit/Motor Vehicle Commission
  MAY 14, 2019 TUESDAY   10:30 AM 1:00 PM 2:00 PM   Revenue Update (Office of Legislative Services) Revenue Update (State Treasurer) Department of the Treasury and Interdepartmental Accounts New Jersey Economic Development Authority New Jersey Board of Public Utilities

Individuals wishing information should contact:

Office of Legislative Services

Legislative Budget and Finance Office

State House Annex

P.O. Box 068

Trenton, New Jersey 08625-0068

(609) 847-3105

Fax:  (609) 777-2442

Sweeney & Sarlo Participate in Public Hearing on State Budget

FOR RELEASE: CONTACT:
March 28, 2019 Press Office
(609) 847-3700

 

Carney’s Point – Senate President Steve Sweeney joined with Senator Paul Sarlo, the chairman of the Senate Budget and Appropriations Committee, for a public hearing on the budget plan for New Jersey for the coming fiscal year. The day-long session by the budget committee, held at Salem Community College, included the participation of more than 70 individuals, groups and organizations who spoke to the needs and priorities for the state’s FY2020 spending plan for the upcoming year.

 

“Today’s public hearing provided a forum for a broad cross section of individuals and organizations to give voice to the budget priorities that they believe are important to New Jersey,” said Senator Sweeney (D-Gloucester/Salem/Cumberland). “We have to continue to make the reforms that will allow for investments that address the needs of the people, that make New Jersey a more affordable place to live and that ensure that government operates efficiently and effectively.”

 

This was the second public hearing by the Senate Budget and Appropriations Committee as the panel engages in a full review of the spending proposal over the next few months. The schedule includes departmental hearings and presentations on state revenues and economic conditions by the Office of Legislative Services and the State Treasurer.

 

“It is more important than ever that we find ways to capture savings and reduce costs so that we have the resources to support the state’s immediate and long-term priorities,” said Senator Sarlo (D-Bergen). “We want to make effective investments to expand economic opportunities at the same time, we have to hold down costs and be fully aware of the impact on taxpayers.”

 

The public participants spoke about the need for continued increases in education aid, Pre-K, higher education, the responsible management of the pension system, support for transportation infrastructure, job training programs and services that care for the most vulnerable.

 

“The Governor’s budget proposal includes some of the cost-saving initiatives that we identified to address the state’s chronic fiscal problems and supports many of our shared priorities,” said Senator Sarlo. “It is now the Legislature’s responsibility to give the proposal a thorough review and put in place a fiscally responsible plan for the upcoming year.”

 

The budget committee’s next session on Tuesday, April 2, in Trenton, will have the State Treasurer and Office of Legislative Services provide an overview of the budget as well as revenue forecasts.

 

Connect with the Senate Democrats:

NJSenDems.org