Hoboken Third Ward Councilman Michael Russo’s Statement on the Failed Introduction of the 2024 Budget

I joined several of my City Council colleagues in voting down, by a vote of 5 to 4, the introduction of the 2024 Hoboken City Budget. I have a couple of reasons.

First: the administration pushed this through at the last minute. The budget document was given to us less than 12 hours ago, and before we even had a chance to read the complete proposal, the Mayor had already put out a press release with the administration’s spin. This is a non-starter.

Second: We can’t keep spending money we don’t have. The 6% tax rate increase proposed by the Mayor’s administration for the second year in a row is just not feasible. Our neighbors didn’t tighten their belts for the last five years just to see their government let them down like this. When a normal Hoboken family anticipates high fixed costs, they adjust variable costs accordingly—and we expect similar action from the administration. Couching this massive increase in language alleging that the tax rate is only slightly lower than 40-year-high inflation does not go far in alleviating the concerns of Hoboken residents; in fact, it only underscores the credit card mindset at work here.

Third: I believe we can do better than a tiny reduction in high-level administrative salaries. Last year the City Council passed legislation to partially reorganize our parks and facilities departments, resulting in some modest cost savings. I’ll work with any and all of my colleagues to work up a Part Two to this initiative.

A budget is supposed to be a values statement. I look forward to a reintroduced budget that respects the taxpayer and their hard work. Please forward this to your friends, family and neighbors in Hoboken so that we can come together and address this together.

Dr. Michael Russo has been serving the residents of Hoboken as a City Council member for over 20 years. As always, residents are encouraged to email councilmanrusso@gmail.com with their feedback. 

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