Recorded on 5/10/21, Steve Adubato is joined by Senator Paul A. Sarlo (D) – NJ, Deputy Majority Leader, and Chair of the Senate Budget and Appropriations Committee, to discuss potential state budget solutions to avoid creating a “fiscal cliff;” the long-term impact of COVID on small businesses in New Jersey; and the next steps in COVID-19 vaccine distribution across the state.
Senator Sarlo discusses the concern of a “fiscal cliff,” as well as potential state budget solutions to avoid it. His main solutions include long-term planning and paying down debt. He explains, “We have this unprecedented amount of federal dollars, we have the borrowed funds, we have an economy that is rebounding…we need to plan for two to three years. We cannot be a bunch of folks who are looking at a one year budget. I am concerned about a fiscal cliff, I am concerned about inflation two to three years from now.”
“There are many steps that we can take for two to three years. And finally, now’s not the time to create new programs. Let’s shore up our finances, let’s make sure we get dollars to the people that need it, some of our most vulnerable citizens, but now’s not the time to create a whole new host of programs,” Sarlo adds. He says the state is doing “the best we can,” in aiding small businesses in recovery from COVID-19 in New Jersey.