Rumpf: Governor’s Proposed Budget Leaves NJ Vulnerable If Recession Hits
Rumpf: Governor’s Proposed Budget Leaves NJ Vulnerable If Recession Hits
9th District Delegation Calls for Fiscal Restraint and Tax Relief – Not More Spending
9th District Assemblyman Brian Rumpf conveyed serious concern during a recent Assembly Budget hearing that Governor Murphy’s proposed FY2023 State Budget leaves New Jersey and its taxpayers vulnerable to economic hardship should the national economy fall into recession.
At the beginning of the year, Assemblyman Rumpf was named to serve on the Assembly Budget Committee. The Assemblyman’s statements and related questions were made directly to State Treasurer Elizabeth Maher Muoio who testified before the Committee on April 4 of this year.
Following the hearing, Assemblyman Rumpf issued the following statement:
“The Governor’s proposed State Budget is built on the premise of excessive spending with little foresight to a potential economic recession while, at the same time, is deficient in meeting the more immediate need for tax relief to struggling residents and an anxious business community.
“I remain deeply troubled by the Administration’s lack of concern with depleting the state’s ‘Rainy Day’ fund. When the COVID-state of emergency was declared, among the first items on the Governor’s chopping block was funding for the Senior Freeze and Homestead Benefit programs. I, along with 9th District colleagues Senator Chris Connors and Assemblywoman DiAnne Gove, fought to have the funding restored, which it eventually was, but the move only unnecessarily added to the anxiety that many seniors were already experiencing at the time.
“Recent world events and the potential for adverse economic ramifications demand that our state be fiscally prudent. Protecting funding for tax relief programs is certainly more critical to the interests of taxpayers than dramatically ramping up state spending to an obscene level when you consider the State Budget has increased a staggering 41 percent under Governor Murphy.
“The Governor’s proposed State Budget lives up to the public’s lowest expectations and will be challenged aggressively by those rightfully demanding fiscal responsibility and accountability by Trenton in the use of taxpayer dollars.”
