Panel Will Get Revenue Forecast, Hear From State Treasurer
TRENTON – On Monday, the Senate Budget and Appropriations Committee will hold a hearing to begin reviewing and analyzing issues related to projected revenues needed to support Governor Corzine’s proposed FY 2010 Budget.
The Committee is scheduled to begin its meeting at 10:00 AM in Committee Room 4 on the first floor of the State House Annex in Trenton.
“The time has come to confront the reality that dire economic times force us to make some painful choices that under different circumstances would be unthinkable,” said Committee Chairwoman, Senator Barbara Buono, D-Middlesex. “The spending plan proposed by Governor Corzine earlier this year attempts to deal with a nearly unprecedented fall-off in revenue by cutting State government deeply in New Jersey. Now, the Legislature must perform its due diligence, scrutinizing every aspect of the Governor’s proposed budget and working with the Administration to craft the best document we can for the people of New Jersey.”
The Committee will receive a budget overview and revenue forecast from professionals with the non-partisan Office of Legislative Services (OLS) at 10:00 AM. Following the presentation by OLS, the Committee will hear from State Treasurer David Rousseau at 1:00 PM. The proceedings will be carried live by NJN, and streamed on their Web site, http://www.njn.net/, as well as on the New Jersey Legislature’s Web site, http://www.njleg.state.nj.us.
“The economic crisis gripping the nation and the entire world right now has forced leaders around the globe to make some very difficult decisions,” said Senator Buono. “While we may not like every aspect of the proposed budget, we have to recognize that there are simply too few dollars to keep government running as we know it today. Any restoration of funds can’t be conjured from thin air. There must be a revenue stream to support any additional expenditure. As we work to produce a balanced budget by the June 30 deadline, we owe it to the taxpayers we represent to have an honest debate about the numbers, and to do our best to make sure that the State’s priorities are preserved.”
WHO: The Senate Budget and Appropriations Committee, OLS Budget Officials, State Treasurer David Rousseau
WHAT: Hearing to provide overview on budget and revenue forecast
WHEN: 10:00 AM, Monday, April 6, 2009
WHERE: Committee Room 4, First Floor, Statehouse Annex, Trenton, NJ