TRENTON – Senator Joseph Coniglio, D-Bergen, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding the passage of the Fiscal Year 2006 budget today:
“I think this is the first budget in the four years I’ve been here, where revenues were truly tied to spending. It is also nice to know that for the first time in four years, we will have a significant cushion in the State’s surplus.
“This is a budget that does not rely on one-time gimmicks, and reflects a shift of philosophy to a pay-as-you-go basis. We did not incur new debt. And we did not hock the future of the State of New Jersey to balance our budget in Fiscal Year 2006.
“It is my hope that New Jersey’s economy continues to stay strong. Next year at this time, I hope that we will be able to anticipate a $1 billion surplus, that will serve as a big step towards paying down New Jersey’s debt services. We must begin to live within our means, and not put off until tomorrow what we should fund today, and the FY 2006 Budget represents a move to that end.”