Analyzing the N.J. State budget: The good, the bad and the ugly

Does New Jersey really need to borrow $4.5 billion to balance its budget because of the pandemic?

Will the millionaire’s tax drive away wealthy taxpayers? Is the new $500 child rebate an election year gimmick or middle-class tax relief?

These are some of the critical questions that will be posed to a panel of the state’s top fiscal experts in “Analyzing the State Budget: The Good, the Bad and the Ugly,” a Zoom webinar to be held from 4 to 5:30 p.m., Thursday, Oct. 15.

Panelists will include Richard Keevey, a Rutgers University professor who served as Budget Director for two New Jersey governors and as Undersecretary of Finance for the U.S. Defense Department; Senate Republican Budget Officer Steve Oroho, R-Sussex/Morris; and Brandon McKoy or Sheila Reynertson of New Jersey Policy Perspective, the progressive policy think tank.

“Few state budgets have been more hotly debated than the FY21 budget signed into law last week,” said Amanda Richardson, executive director of the Corporation for New Jersey Local Media, which is sponsoring the free webinar as part of its Community Engagement series.

“While most states were cutting spending in the face of the pandemic, New Jersey took a different approach, borrowing $4.5 billion, raising the millionaire’s tax and the Corporation Business Tax, and creating a new $500 rebate program for middle-class families with at least one child,” she said. “Our webinar brings together a panel of top fiscal experts to assess the impact of those budget decisions.”

The webinar is co-sponsored by the New Jersey Hills Media Group, publishers of this newspaper. “We are pleased to partner with the Corporation for New Jersey Local Media in bringing expert discussions of important issues to our readers,” said Stephen Parker, co-publisher of the New Jersey Hills Media Group.

Those interested in viewing the webinar can sign up on-line at www.newsweneed.org or register on Zoom at https://zoom.us/webinar/register/WN_TVM-eXPXTuSNRdi4VqZiLA

The webinar also will be carried live on the New Jersey Hills Media Group’s 14 Facebook sites. Suggested questions can be submitted in advance to Amanda Richardson at amanda@newsweneed.org or through the Zoom chat feature during the webinar.

The Corporation for New Jersey Local Media is a non-profit organization that is dedicated to building strong communities by promoting community journalism, civic engagement and public discussion of critical issues. It operates as a special project under the aegis of the Community Foundation of New Jersey.