Concerned that New Jersey residents already receive the lowest rate of return of any state on tax dollars sent to Washington, Senators Tom Kean (R-21), Steven Oroho (R-24) and Joe Kyrillos (R-13) questioned the equity of a new plan by President Obama to levy a new tax on investment income that would be borne disproportionately by New Jersey residents.
To help fund his multi-trillion dollar healthcare proposal, the President’s new plan, released on February 22, calls for the addition of a 2.9% Medicare tax on certain income, including that derived from interest, dividends, annuities, royalties and rent. This new tax would apply to individuals earning more than $200,000 and $250,000 for married couples filing jointly.
Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding Governor Christie’s budget speech today:
“Governor Christie was left with an unprecedented budget deficit when he took office 23 days ago. The size of the budget hole that needed to be closed by the end of this fiscal year is more than $2 billion. Sadly, the governor only had $6 billion in unexpended funds to work with to close this extraordinary gap.
Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, announced today that he was appointed to the governor’s “Red Tape Review Group.” The group was created by Executive Order 3 on Governor Christie’s first day in office.
“I am honored that Senator Kean chose me to represent our caucus on Governor Christie’s Red Tape Review Group,” Oroho stated. “It is obvious that reforming our regulatory process needs to be our top priorities.”
Senator Steve Oroho, a Republican on the Senate Budget and Appropriations Committee, applauded Governor Chris Christie for widely distributing the disclosure statement that will be included in coming state bond offerings. The governor put the disclosure statement in a news release that was distributed to reporters, editors and others.
“In the past, these disclosure statements usually were seen only by investors and financial reporters interested in future bond offerings,” Senator Oroho said. “By releasing this statement to the general press and the public, Governor Christie is keeping his promise of greater openness and candor in state government.”
Senator Steven Oroho, Assemblywoman Alison Littell McHose and Assemblyman Gary Chiusano, all R-Sussex, Morris, and Hunterdon, today hailed news from the Christie administration that certain income tax hikes enacted under former Governor Jon Corzine and the Democrat-controlled Legislature have sunset.
“The fact that these onerous tax increases on income have sunset is welcome news for a state whose population has been inundated with taxes for the past eight years,” said Oroho. “Reducing taxes and cutting spending will help make New Jersey competitive again in attracting new businesses and spurring job growth.”
Senator Steve Oroho, a member of the state Budget and Appropriations Committee, said he was outraged but not surprised by the decision of the Local Finance Board to rush through $121 million in ‘Special’ Municipal Aid grants.
“In past years, the board awarded these grants in April or May,” Oroho said. “Clearly, the Corzine administration is afraid that this process would not survive the scrutiny of a new governor who demands people play by the rules when handing out taxpayer money.”
Senator Steve Oroho, Republican member of the Senate Budget and Appropriations Committee, said he was outraged that the Joint Budget Oversight Committee approved Governor Corzine’s last-minute deal to give $121 million to just five, chronically mismanaged cities.
“The governor is spending $121 million the state just doesn’t have, and he is spending it on cities that have demonstrated year after frustrating year that they can’t be trusted with taxpayers’ money,” Oroho said. “Governor Corzine has provided zero evidence that this is the best way to spend these precious dollars during the worst economic downturn in 80 years.”
Last Minute Giveaways of Tens of Millions of Dollars to Favored Towns by Corzine Breaks Back of State Budget and Comes at Time of School Aid Cuts
Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, is condemning Governor Corzine’s planned giveaway tomorrow of tens of millions of dollars to the politically connected municipalities of Camden, Paterson, Union City, and Bridgeton through the arbitrary and mismanaged Special Municipal Aid Program. Award of aid to the towns has been scheduled for a vote at tomorrow’s meeting of the Local Finance Board at the Department of Community Affairs at 10 AM.
Oroho Bill Extending Appraisal for Green Acres and Farmland Preservation Clears Senate Budget Committee
Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding the passage of S-1875 which would extend the expiration date of special appraisal process for Green Acres and farmland preservation programs from 2009 to 2014.
“This is a fundamental issue of fairness. The landowners in the Highlands region were given assurances that they would be fairly compensated for the value of their land that was dramatically reduced in value by the implementation of the 2004 Highlands Act. In many cases, red tape and time delays hampered the ability of property owners from filing for consideration under the dual appraisal provision of the Highlands Act.