Senator Madden: Times Have Changed And So Has New Jersey’s Fiscal Landscape

TRENTON – Senator Fred H. Madden, D-Camden and Gloucester, today released the following statement regarding the Joint Legislative Committee on Constitutional Reform and Citizens Property Tax Constitutional Convention (JCCR) meeting, during which the Committee discussed and heard testimony on S-50, a Madden-sponsored measure to establish the “New Jersey Tax and Fiscal Policy Study Commission:

“The Committee hearings we’ve held over the past few months have shown the lack of available information regarding fiscal policy and tax structure, which is why creating a commission to examine these issues is so necessary.

“A permanent commission made up of competent academics and business professionals with practical experience in governmental fiscal matters would assist all branches of government in making responsible decisions.

“The last official tax study report issued to the Legislature was done in 1968. Times have changed since 1968 and so has New Jersey’s fiscal landscape.

“We are used to running State Government during times of peace, but now we’re at war and that in itself brings about different needs and demands. Our government must be able to meet those demands while also taking care of issues at home.

“I believe it will provide the continued monitoring and oversight necessary to make sound fiscal and taxation decisions- now and into the future.”