Christie Announces Plan To Fix NJ’s Budget Deficit - My9 New Jersey

Christie Announces Plan To Fix NJ’s Budget Deficit

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Trenton, New Jersey (My9NJ) - Governor Christie just announced his plan for filling New Jersey’s $800 million budget deficit and it involves using an executive order to reduce pension payments.

“I am doing it through executive order. We only have a brief period of time left in the fiscal year so I will be executing an order after this press conference,” Christie explained.

The governor also announced, as he had in the past, that he has no intention of raising income or sales taxes.

In the Garden State it is a constitutional obligation to have a balanced budget, and Christie said that even if that were not the case, he would still make these necessary changes in order to keep the state’s finances on track.

“I’ve tried over the course of my five budgets here to be a fiscally responsible governor and this is what you need to do. So even if I were permitted to have deficit spending, I wouldn’t want to do it because it’s not good for the state’s future,” Christie confirmed.

He also stressed that this is a situation of survival for the state and it’s not something that can easily be ignored.

“The games over everybody, cause that number is only going to get worse after fiscal ‘16, not better. We need to look at the types of plans we offer, the affordability of them, and then what’s looming off in the distance for all those Obamacare fans out there-the Cadillac plan tax which is looming off in fiscal ’18. And the state, the state, if we continue our current level of benefits will have to pay hundreds of millions of dollars in tax to the federal government per year,” Christie concluded.

The governor also plans to share a specific plan for pension and health benefit reform in about a month.


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