Gov. Mikie Sherrill (D) stated that “last-minute giveaways” at the state level are done at her first roughly hour-long New Jersey budget address this afternoon.
By Daniel Ulloa/Hudson County View
“Government hasn’t been working the way it should. Here in New Jersey, a broken budget is at the heart of so much of that. For too long, too many in Trenton have taken the easy way out,” Sherrill began regarding the $60.7 billion spending plan.
She noted that she has already signed executive orders to address utility and energy costs, and others to help cut red tape.
“We’re fighting and winning for the Gateway tunnel and its thousands of jobs. We were staring down an estimated $3 billion structural deficit this year … or 5 percent of expenses. It could mean tax hikes for businesses and families. I won’t let that happen,” Sherrill exclaimed.
“The Trump Administration is recklessly slashing critical programs …Trump’s cuts are blowing an immediate hole in our budget, hurting New Jerseyans … and at the same time, the COVID relief money is ending. Meanwhile, costs everywhere keep rising. It’s hurting families’ pockets.”
Sherrill called her budget the most fiscally responsible one in years.
“It fully funds the pension. It does not raise taxes on individual New Jerseyans. And it does include $2.6 billion in budget solutions,” she explained.
Sherrill wanted to close corporate loopholes to fill the deficit.
“This budget is the path to getting our fiscal house in order,” she declared before saying last-minute add ons aren’t happening any more.
“Our work starts by ending previous administrations’ bad habit of tacking last-minute giveaways onto each budget.These days, we simply can’t afford that,” the governor declared.
“For example, in the final working days of the last Administration, New Jerseyans were stuck with nearly 3 billion dollars in extra spending – 2.5 billion in corporate tax breaks and 240 million in giveaways. That can’t happen. We can’t afford that process anymore. It’s not accountable; it’s not efficient; it’s not what the people of New Jersey deserve.”
Despite talk of the program being eliminated, Sherrill indicated that Stay New Jersey isn’t going anywhere, calling it “a great program” for seniors, though significant cuts to it should be expected.
She also noted that she plans to fill the budget gap by “pairing back some corporate tax breaks, capping the deduction that our highest earning companies can take for net operating losses.”
Further, Sherrill wanted to limit certain tax advantages to small businesses only.
“The diner and the car repair shop down the block are the ones that should benefit,” she said.
Sherrill said this would help people like Tracey Porter, whom she met last month at a rally in Secaucus where she joined union workers in calling for Gateway Tunnel funding to be restored by the Trump administration.
She later acknowledged the high cost of living in the Garden State.
“I promise to change that … to lower costs for working families, to stand up to the bad actors ripping them off,” Sherrill declared, also blameing the high utility costs on the national regional provider PJM.
“It has failed to get us enough power online to meet growing needs. And it’s been too slow managing demands from Data Centers. We’re growing solar and battery capacity.”
Sherrill also expressed an interest in opening up nuclear power plants in New Jersey to applause.
“More power means more supply and lower costs,” she argued before honing in on affordable housing.
Sherrill expressed wanting to protect and increase the NJ Affordable Housing Trust Fund to build more units to applause. She added that this can also help first-time homebuyers with their first down payment.
“Rent these days can be set by algorithms that use your data to charge the highest price they think you can bear,” the new governor added, noting that even stores prices can be tweaked based on your personal data/web browsing history.
She said they tweak store prices based on your personal data.
“I’ll work with all of you to pass legislation limiting this kind of for-profit surveillance by Big Tech,” Sherrill added to applause, later adding that “we all know the healthcare system in America is broken.”
Before concluding, New Jersey’s top elected official also vowed to modernize NJ Transit.
“This budget ensures there are no cuts to service. And it’ll help to fully modernize one of the oldest rail fleets in the nation – starting with 40 new rail cars and 250 new buses this year,” Sherrill stated.
“And shortly, we’ll be opening the brand new Portal Bridge, on the line from Newark to Penn Station –replacing a century-old swing bridge, finally ending the signal failures and delays.”
Sherrill also pledged to keep fighting for the Gateway Tunnel, which employs LIUNA workers.
“It has been an honor standing with you these past months, thank you,” she said to LIUNA union members in the audience.
Sherrill also planned to keep suing the Trump Administration “and beating him in court!”
“I’m in this with you for the long haul,” she asserted.
