Fiscal Reform Recommendations To Be Released

Trenton – The blue ribbon panel created by the Legislature to identify fiscal and governmental reforms that will address the most challenging financial and operational problems that confront the state will issue a wide range of its recommendations at a news conference today at 2:00 p.m.

The 25-member Economic and Fiscal Policy Workgroup, comprised of economists, tax experts and those with extensive experience on fiscal policy from academia and the public and private sectors, devoted seven months of focused work under the bipartisan leadership of Senate Budget Chair Paul Sarlo, Senator Steve Oroho and Assembly Majority Leader Louis Greenwald to develop its report and the accompanying recommendations.

The recommendations are intended to help avert the serious fiscal problems that confront the state, to find ways to maintain long-term fiscal stability and to make New Jersey more affordable and more competitive. The proposals include ways to address soaring pension and benefit costs, hold down property taxes, make school districts and state and local government more efficient, assess the equity and efficiency of our state and local tax structure, and ameliorate the negative impact of the federal tax law.

Senator Sweeney, Senator Sarlo, Senator Oroho and members of the Economic and Fiscal Policy Workgroup will release the report at a news conference at 2:00 p.m. on Thursday, August 9^th in the Senate Democratic Caucus Room in the State House in Trenton (2^nd floor, across from the Senate Chamber balcony).

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