We are pleased that some of the fiscal reform measures the Chamber Board called for when we conditionally supported the financial restructuring and debt reduction plan have made their way into this budget proposal.

Curtailing out-of-control spending, reducing the immense size of state government, and postponing or eliminating programs we can't afford are measures that have been called for by most New Jerseyans for quite some time. They are certainly measures the employer community will support.
We applaud the Governor for understanding the seriousness of our fiscal crisis by presenting a budget that, while tough to stomach by just about everyone in this state, will begin to repair the damage done by the negligent spending plans of the past 10 years.
However, reforming the way the state budgets from year-to-year addresses only half of our problem. It still does not answer the question of how we are going to pay down billions of dollars in debt, as well as fund desperately needed transportation projects. We still must clean up the mess left by the aftermath of past budgets or we will not be able to grow the economy of New Jersey. Although the Governor's initial financial restructuring and debt reduction proposal will be modified over the coming weeks, addressing the state's $115 billion of bonded debt and liability obligations must remain a priority.
While some of our conditions are in the budget proposal, the chamber is still calling for further controls on state spending, assurances that revenue raised goes to intended purposes, reforms of the state pension and benefits systems, the creation of more efficiencies within government, and identifying additional programs that we can do without and can no longer afford.
In order to clear the path for economic growth and unlimited opportunities for all New Jerseyans, solutions to our crippling problem must be agreed upon by our leaders on both sides of the aisle. Times of crisis are when our leaders must unite for the betterment of all. We can't let partisan bickering stand in the way of true reform and change.

For comment or an interview, please contact Jim Leonard, Senior Vice President, Government Relations, New Jersey Chamber of Commerce at (908) 256-2269.


Press contact KeriVanatta
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