Faced with a pension crisis that imperils both future budgets and his presidential ambitions, Gov. Chris Christie once again is turning to a commission to provide policy options and political cover.
During a television interview this morning, Gov. Chris Christie defended his decision to reduce payments to the public-worker pension system to balance the new state budget — and vowed to introduce more pension reforms at some point this summer.
Today is the deadline for Gov. Chris Christie to take action on the $34.1 billion state budget the state Legislature sent him Thursday, and lawmakers are bracing for what could be a series of vetoes.
The governor has pledged to redline a package of tax hikes designed by Democrats and opposed by Republicans and business lobbyists. The likely targets are a bill to raise the income tax for any earnings above $1 million during three years, and another bill that imposes a 15 percent corporate-tax surcharge for a year.
The deal struck to preserve the 2 percent cap on police and firefighter pay raises comes as a relief. Without it, New Jersey towns were at a real risk of losing the control over budgets and property taxes they’ve exercised since 2011.
While Gov. Chris Christie is still several weeks away from announcing his proposal to overhaul New Jersey’s pension and retiree health benefits system, his plan seems most likely to center on a “hybrid” model that would give current employees a smaller defined-benefit payoutsupplemented by a 401K-style defined contribution plan.
Former Gov. Brendan Byrne — whose funny one-liners are New Jersey legend — turns 90 today, and it won't be a quiet birthday.
Richard S. Mroz, president of the state Board of Public Utilities since 2014, discussed New Jersey's Energy Master Plan and… Read More