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6-26-14 p.m. - State Senate Passes Budget for FY '14-'15 but...And, Held in the Senate - S2154 Van Drew - bill to delay PARCC testing results being implemented
Star Ledger - NJ Senate passes state budget that makes pension payments, hikes taxes… 'Regardless, this version of the budget is unlikely to ever take effect. Gov. Chris Christie vowed Wednesday that he will veto any plan that includes tax increases…The state Assembly — also controlled by Democrats — is expected to sign off on the plan later today...'

S2154 Van Drew, the bill to delay Common Core and the implementation of PARCC testing results)has been held in the Senate today rather than being voted on. It is being said in the State House - following up on statements the Governor made yesterday at a town hall - that the administration is developing a position on the testing and will be presenting a plan, perhaps in 5 to 10 days or so, for an executive order that will modify the initial approach to the new testing and evaluation system. This is consistent with Senate Education Chair Teresa Ruiz' call for any change to the testing and evaluation process to come via the regulatory process and not via legislation. In addition, Senate President Steve Sweeney is keeping pressure on the Governor to provide his plan sooner, and has said that he will post the bill on Monday if no information on the plan is forthcoming by then.

Star Ledger - NJ Senate passes state budget that makes pension payments, hikes taxes…” Regardless, this version of the budget is unlikely to ever take effect. Gov. Chris Christie vowed Wednesday that he will veto any plan that includes tax increases…”

By Brent Johnson/The Star-Ledger The Star-Ledger
Email the author | Follow on Twitter
on June 26, 2014 at 3:00 PM, updated June 26, 2014 at 3:58 PM

TRENTON — A new state budget plan designed by Democrats that makes a full payment to the public-worker pension system but hikes taxes on businesses and millionaires cleared the state Senate today.

The upper house of the state Legislature passed the $34.1 billion proposal along party lines, with all 24 Democrats voting yes and all 16 Republicans voting no.

The state Assembly — also controlled by Democrats — is expected to sign off on the plan later today.

"This is a budget that meets all the obligations required of this Legislature," Senate Budget Committee Chairman Paul Sarlo (D-Bergen) said. "We are not walking away from the sins of the past like other Legislature and other governors have. We are making a commitment to paying our bills."

Regardless, this version of the budget is unlikely to ever take effect. Gov. Chris Christie vowed Wednesday that he will veto any plan that includes tax increases.

Democrats and Republicans have been battling for weeks over how to cover a $1.7 billion revenue shortfall in the budget for the upcoming fiscal year that begins Tuesday. New Jersey is required under the state constitution to pass a balanced spending plan by then.

Christie, a Republican, has proposed plugging the gap by cutting the state's contribution to the public-worker pension system from $2.25 billion to $681 million. He argued that while the payment would hurt workers' retirement funds, it's a better option than slashing funding for schools and hospitals or raising taxes.

But Democratic lawmakers said Christie was breaking a promise to state workers. Instead, they proposed two bills to hike taxes.

One would raise the marginal tax rate on income above $1 million from the current 8.97 percent to 10.75 percent. The increase would expire after three years.

The other measure would raise the corporate business tax rate from 9 percent to 10.35 percent. That would expire after one year.

"None of us want to do this," Sen. Linda Greenstein (D-Middlesex) said today. "We have to do it."

Senate President Stephen Sweeney angrily noted that Christie signed a law in 2011 to reform the pension system, giving public workers a contractual right to full pension payments.

"That came with an obligation, dammit," Sweeney said. "That came with an obligation.

"I wish nothing but the best for the wealthy," he continues. "But enough's enough. What about the working-class people that were made a promise?"

Sarlo blamed Christie's administration for creating the shortfall by making overly optimistic revenue projections — a situation that led the state's credit rating to be downgraded by several Wall Street agencies. The senator said this budget proposal would "not create another downgrade."

But Republican lawmakers argued today that the the tax hikes will lead businesses to cut staff, reduce salaries, and move out of state, while also discouraging other businesses from locating here. They feared high-income residents will flee the Garden State, as well.

"I wish that the budget we are voting on today went in a different direction than raising harmful taxes and fees," Sen. Anthony Bucco (R-Morris) said. "What happens when there are no more millionaires here to tax?"

Sen. Steven Oroho (R-Sussex) said the state can't afford to make a full pension payment.

"It's easy to make promises," he said. "It's tough to make payments."

The budget plan that passed also:

• Restores a $7.4 million cut Christie made to funding for women's health clinics and family planning services.

• Increases funding by $56 million for the Earned Income Tax Credit, designed to help low-income residents.

• Provides $20 million to cancer research, including restoring a $10 million cut Christie made.