Despite GOP Objections, NJDSC Chairman Currie Says State Leaders Are Supporting Governor Murphy’s $10B Plan to Meet NJ’s Revenue Shortage

New Jersey Democratic State Committee Chairman John Currie says more and more leaders and organizations from across the Garden State are falling place in support of Governor Phil Murphy’s plan to borrow $10 billion.  The Governor wants to use the money from a new, federal program to help rejuvenate New Jersey’s economy and stem the tide of massive layoffs as a result of the coronavirus pandemic.

Former Assemblyman and current Republican Party gubernatorial candidate Jack Ciattarelli is threatening to sue the Governor and the Administration if Murphy’s plan moves forward, calling it another Democratic ploy to raise taxes.

New Jersey Democratic State Committee Chairman John Currie issued a press release on Monday, emphasizing why the Governor’s plan, which must be approved by the Legislature, is good for the state:

While the health effects of the COVID-19 crisis are clear to all of us, the financial impact on New Jersey is just starting to come fully into focus. Without a direct infusion of cash, states like New Jersey that have been hardest hit by the pandemic will soon be in a position where they are forced to lay off thousands of public employees, from police officers, firefighters and EMTs to teachers to public health workers and many others. This would not only gut vital services at the worst possible time, it would also further depress the economy by taking jobs away from thousands of middle class families.

Governor Phil Murphy has a smart, ambitious plan to prevent these massive layoffs by tapping into a new federal program and taking advantage of record low interest rates to bond for upwards of $10 billion to cover the state’s revenue shortfall. But he can’t enact it without the State Legislature. 

Thankfully, more and more state leaders and organizations are stepping up to support Governor Murphy’s plan and call for the State Legislature to act. First among them is Assembly Speaker Craig Coughlin, who has been a true leader on this issue and shown his commitment to the people of New Jersey. Speaker Coughlin is not alone. Check out what other NJ leaders are saying about Governor Murphy’s plan:

“Borrowing is an option of last resort and not one I would ordinarily favor. However, a once-in-a-lifetime pandemic that is causing an unprecedented economic decline is clearly a time to consider every possible option.” — Speaker Coughlin

“In the absence of support from the Federal government, we believe the most prudent step to take is to borrow $9 billion to cover the shortfall.” — Essex County Executive Joseph DiVincenzo

“The COVID-19 crisis has pushed our local, county and state governments nearly to the breaking point. Forcing these government agencies to now lay off thousands of essential workers during this pandemic absolutely cannot be allowed to happen.” — Hudson County Legislative Delegation 

“If the experience with the COVID-19 pandemic taught us anything, it is the importance of our frontline heroes. The Governor’s borrowing plan will prevent potentially massive layoffs of public sector workers, including police officers, firefighters, health officers, EMTs and other frontline workers.” — Passaic County Freeholder Director Cassandra Lazzara 

“Borrowing money isn’t anyone’s first choice of how to balance a state budget, but with priorities like education, infrastructure and the health and safety of New Jersey residents on the line, we need to think big to protect the well-being of our students, their families and everyone who calls the Garden State home.” — New Jersey Education Association President Marie Blistan 

“Providing the state the ability to borrow federal funds with strong oversight is critically important as we all begin to look over the horizon towards what will certainly be one of the most bleak financial periods in New Jersey history. Refusing to put this mechanism in place would be a serious misstep that will have long-term, far-reaching consequences for not just every member of law enforcement, but also every New Jersey resident.” — NJ State PBA President Pat Colligan 

“The 15,000 men and women of our labor federation agree that the state legislature must take action to provide assistance for working people. The New Jersey COVID-19 Emergency Act is a responsible approach during unprecedented time.” — Hudson County Central Labor Council President Barry Kushnir 

With the State Assembly set to vote on the plan later this week, the momentum is clearly building. With federal funding very much in doubt, we must not let this opportunity pass our state by. I join with the many other leaders throughout our state who are asking the State Legislature to pass this bill soon as possible, so we can avoid a truly devastating outcome for New Jersey. 

Thank you,

Chairman John Currie




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