Rumpf: Governor’s Proposed Budget Makes NJ Vulnerable in Recession
Rumpf: Governor’s Proposed Budget Makes NJ Vulnerable in Recession
9th District Delegation Calls for Budget Restraint and Tax Relief – No More Spending
During a recent Assembly budget hearing, Brian Rumpf, Assemblyman for the 9th District, expressed serious concern that Governor Murphy’s proposed state budget for the Fiscal 2023 leaves New Jersey and its taxpayers vulnerable to economic hardship should the national economy fall into recession.
Earlier this year, Assemblyman Rumpf was appointed to serve on the Assembly Budget Committee. The Assemblyman’s statements and related questions were addressed directly to State Treasurer Elizabeth Maher Muoio, who testified before the committee on April 4 of this year.
Following the hearing, Assemblyman Rumpf released the following statement:
“The Governor’s proposed state budget is based on the premise of overspending with little anticipation of a potential economic downturn, while failing to address the more immediate need for tax relief for struggling residents and an anxious business community.
“I remain deeply troubled by the administration’s lack of interest in 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. me with 9and District colleagues Senator Chris Connors and MP DiAnne Gove fought to get the funding reinstated, which eventually was, but the move only added needlessly to the anxiety of many older people were already experiencing this at the time.
“Recent world events and the potential for adverse economic ramifications require our state to be fiscally prudent. Protecting the funding of tax relief programs is certainly more essential to the interests of taxpayers than dramatically increasing state spending to an obscene level when you consider that the state budget has grown by 41% under Governor Murphy.
“The Governor’s proposed state budget meets the public’s lowest expectations and will be aggressively challenged by those who rightly demand fiscal responsibility and accountability for Trenton’s use of the taxpayers’ money.
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