NJPP: Pension and Benefit Cuts Are Bad Public Policy and Even Worse Optics

Earlier today Senate President Steve Sweeney unveiled a package of 27 bills from his Path to Progress working group. In response to proposals to reduce working class pensions and health benefits, NJPP President Brandon McKoy released the following statement.

NEW JERSEY POLICY PERSPECTIVE PRESIDENT BRANDON McKOY

“Trickle down economic policies got New Jersey into its current fiscal mess and more of the same will not lift the state out of it. It is bad public policy — and even worse optics — to ask more than 350,000 working families to make further sacrifices while protecting 17,000 millionaires from a modest tax increase. In this era of historic inequality and wage stagnation, the choice before lawmakers is clear. They can continue to balance budgets on the backs of middle class families or ensure the wealthiest among us pay their fair share.”

“Lawmakers must not forget history. Under the Christie administration, the state cut taxes time and time again for the wealthiest individuals and largest corporations. As a result, middle class families now pay a higher share of their income in state and local taxes than millionaires do.

“Last year, lawmakers challenged Governor Murphy to find significant savings before they would consider a millionaires tax, and he did just that. It’s time for lawmakers to fulfill their promise and ask the wealthiest among us to pay a little bit more.”

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