"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Tuesday, March 21, 2006

New Jersey Budget Fiscal Year 2007

Governor Jon Corzine submitted a $30.9 budget for fiscal year 2007, a 9.2 percent increase in spending over last year. The proposed budget increases spending by $2.6 billion and imposes $2 billion in new or increased taxes.

Note: The state expects to collect a minimum of $600 million more over last year on existing taxes and fees.

Update: Budget address may be read here and the Budget in Brief here.
Update: II: Additional budget details have been added – specific programs and dollars

Cuts to State Government
  • Reduce state aid to colleges and universities - $117 million
  • Layoff 300 state workers not protected by civil service and cut an additional 700 jobs through attrition - $54 million [Not really a cut - spending for state worker salaries will increase by $200. Net increase in spending - $146 million]
  • Reduce municipal aid - $40 million
Spending Increases

  • State worker pension fund payments - $1.1 billion
  • Property tax rebates - $529.8 million (Average rebate will be $358)
  • Debt payments - $483 million
  • Medicaid - $358 million
  • Increase salaries for unionized state workers - $200 million
  • Abbott school construction - $115 million
  • Child welfare agency - $114 million
  • Environmental Protection Programs - $109 million
  • Capital improvement projects - $80 million
  • New special education program - $19.5 million
  • Expand eligibility for health insurance for children - $5 million
  • State Rental Assistance Program - $15 million
  • Mental Health services - $10 million
  • Temporary Assistance for Needy Families (TANF) - $7 million
  • After-school programs - $7 million
  • Food Distribution Program - $4 million
  • Gang reduction Programs - $2.3 million
  • Family planning programs- $2 million
  • Halfway Back prisoner transitioning - $1 million
  • Gun Violence Prevention - $750, 000
Tax Cuts

  • Increase the income tax threshold where residents pay no tax from $20,000 to $25,000
  • Provide a cut to families earning less than $30,000. Total cost for both tax cuts - $105 million.

New Taxes

  • Hospitalprovider tax (5.5% tax based on non-Medicare hospital revenue) - $430 million
  • Extended sales tax to some previously untaxed goods and services - $200 million
  • New 2.5 percent tax surcharge on Corporations - $60 million [retroactive to 1/1/06]
  • New tax on the sale of commercial property - $17 million
  • New water tax of 4 cents per 1,000 gallons to be collected by water utilities - $12 million
Increase Existing Taxes

  • Increase sales tax from 6 to 7 percent (Effective July 1, 2006) - $1.3 billion
  • Increase the cigarette tax by 35 cents to a national high of $2.75 per pack - $80 million
  • Increase wholesale taxes on wine (14 percent), beer (42 percent) and liquor (1 percent) - $12 million

Increase Fees and Charges

  • Increase vehicle registration fees on those costing $45,000 or more and vehicles with an EPA rating of lessthan 15 miles per gallon - $17 million
  • Sliding scale fees to use after-school and summer programs in Abbott School districts.(Fees will only be charged to families earning more than $60,000) - $30 million
  • Charge Medicaid recipients a $2 co-payment per prescription drug, up to $10 per month - $13 million
  • Charge Medicaid recipients a surcharge for emergency rooms for nonemergency health problems - $1.1 million

"We're going to re-scrub the budget," said Senate Budget Committee Chairman Wayne Bryant (D-Camden). "The last thing we will consider is any revenue raisers."



12 Comments:

At 2:17 PM, Anonymous Anonymous said...

Corslime, like most democrats are liars and big spenders. the gay governor raised spending by 17% in one year and NJ is still running deficits.

 
At 4:13 PM, Anonymous Anonymous said...

Corzine was elected on lies and voter fraud. I just hope the state of NJ remembers why Florio was so unpopular and make sure that Corzine stays a one-termer.

Use the same fiscal discipline that families and businesses use. Cut spending if the total budget is in the red. Don't increase taxes as that will only hurt businesses and the low income families that Corzine has mentioned as among his top priorities. Increasing the bottom level of income tax to residents making under $25,000 and families making less than $30,000 does virtually nothing as they will get hit hardest with the sales tax increase.

The campaign starts now. DUMP Corzine!!!!

 
At 4:13 PM, Blogger njgalaxie73 said...

Uggghh! I think I'm gonna dry heave!!

 
At 4:26 PM, Blogger Ken Adams said...

YEEEEEEEAAAAAAAAARRRRRRRRRRRRGGGGGGGGGGGHHHHHHHHHH!!!!!!!!!!!

Uh oh. Did I say that out loud?

 
At 8:28 PM, Blogger njgalaxie73 said...

President Bush made an excellent point in his press conference today as he went into the need for a line item veto to help control federal spending. He said the following about raising taxes to balance the budget:

"You know, it's a myth in Washington, for Washington people to go around the country saying, well, we'll balance the budget, just let us raise taxes. That's not how Washington works. Washington works raising taxes and they figure out new ways to spend. There is a huge appetite for spending here."

Wow!! Amen to that!! Boy, where in the hell is that sense of logic in Trenton when you need it?

President Bush knows full well that raising taxes to fix a problem NEVER works! If I didn't know any better I'd swear The President was literally making an expample out New Jersey!

Here we have Jon Corzine Yesterday unveiling his tax plan which creates, raises, and extends taxes left and right and the following day President Bush comes out and says IT WON'T WORK!! The government is just going to find a new way to waste your money! Enlighten my dear friend, this is pure gold! I hope to God that I wasn't the only one in the state of New Jersey who watched this press conference!

If this isn't a pure comparison of the conservative and liberal solutions to balancing a budget and creating growth then God only knows what is! For a President with such a, "low approval rating", I wonder whose side New Jersey Taxpayers would take in this comparison of phiosophies?

 
At 9:11 PM, Blogger Ken Adams said...

The NJ Taxpayers would definitely take in the comparison. In fact, we did, and voted for Doug Forrester last fall. The problem is, there are many more tax receivers than tax payers.

 
At 8:35 AM, Blogger Mr. Apropos said...

Hummm, is it just me or are the "deep" and "painful" cuts in spending absent? Maybe I'm missing them?

 
At 10:06 AM, Blogger Ken Adams said...

If you define "deep" and "painful" the same way as a three-year-old who has skinned his knees, then they are there. They'll be gone in two minutes when a bird flies by and distracts the legislature, but they are there now.

 
At 10:56 AM, Blogger lawhawk said...

Revenue raisers? You mean tax increases don't you.

Bastards can't even be honest about what they're doing.

And the fact is that some of those items are revenue reducers - tax increases that end up reducing the revenues of the businesses and individual taxpayers.

 
At 6:15 PM, Anonymous Anonymous said...

I belive one hand watches the other.people work hard for living to pay taxpayers and get nothing out of it but misery.

 
At 9:16 PM, Anonymous Allan said...

nyc seafood restaurants
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dallas divorce lawyer
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At 10:04 AM, Anonymous Godfrey said...

This can't have effect in actual fact, that is exactly what I consider.
parti québécois

 

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