Codey Applauds Corzine Signing Of New Jersey Economic Stimulus Act
News & Releases Richard J. Codey
NEWARK – Senate President Richard J. Codey, D-Essex, issued the following statement today regarding Governor Corzine's signing of S-2299, the "New Jersey Economic Stimulus Act of 2009":
"During the worst economic crisis in generations, Governor Corzine and his partners in the New Jersey Legislature have consistently shown the leadership needed to make true economic recovery and stimulus a reality.
"We were the first in the nation to adopt an economic recovery package which supported struggling mid-sized employers, promoted investment in our communities, provided a helping hand to the most vulnerable and created a new job incentive program which has been an overwhelming success.
"We created a tax amnesty program to allow delinquent taxpayers – many of which were corporate taxpayers – to settle up and wipe the slate clean. This program has resulted in a $600 million net gain in State revenues and allowed corporations to avoid costly penalties and fees.
"And today, Governor Corzine is signing a comprehensive bill entitled the 'New Jersey Economic Stimulus Act of 2009,' designed to jump-start our economy.
"This new law will eliminate development fees on businesses seeking to expand in the Garden State. It will create new opportunities for public-private partnerships and encourage municipal redevelopment in some of our most run-down urban centers. And it will invest millions in real affordable housing for New Jersey's citizens.
"I would like to thank Senator (Ray) Lesniak and Speaker (Joe) Roberts for pushing hard in the State Legislature to make this bill a reality. Throughout the process, they remained open to working with any and all parties to create new and lasting economic opportunities for the State of New Jersey.
"And I'd like to thank Governor Corzine for continuing to show the vision, commitment and leadership to get our State on the right track, creating new jobs and encouraging new investment in our communities.
"We still have more to do to turn New Jersey's economy around and put our State in a better position once the national recession subsides. But with partners like these, and legislation like the Economic Stimulus Act, we will see many brighter tomorrows ahead for the Garden State."
Lesniak Economic Stimulus Bill Approved In Senate
TRENTON – A bill sponsored by Senator Raymond J. Lesniak which would jump-start New Jersey's economy was approved by the Senate today by a vote of 23-14, receiving final legislative approval.
"Even before the national recession, New Jersey's economy has lagged behind the national economy for nearly a decade, with in-State private-sector job growth underperforming national statistics in even the rosiest economic times," said Senator Lesniak, D-Union. "In the four year period from 2003 to 2007, private sector employment grew nationally by 6.5 percent. By comparison, during that same time period in New Jersey, the private sector job base grew by only 2.3 percent.
Senator Lesniak To Discuss Economic Survival Of New Jersey
NEWARK — Senator Raymond Lesniak will deliver the following remarks at the Smart Growth Coalition's membership meeting tonight in Newark.
"Proposals currently moving through the legislature represent nothing less than the future of the State of New Jersey. If revisions to the Urban Transit Hub Tax Credit, the Revenue Allocation District and Affordable Housing bills do not pass, we will see the words of Bruce Springsteen's 'My Hometown' come true: These jobs are going boys and they ain't comin' back.
Lesniak Economic Stimulus Bill Signed Into Law
TRENTON – A bill sponsored by Senator Raymond J. Lesniak which will jump-start New Jersey's economy and create new economic and job opportunities was signed into law today by Governor Corzine.
"New Jersey's economic problems didn't begin with the global economic crisis affecting the rest of the world, and it wouldn't end when the national economy rebounds" said Senator Lesniak, D-Union. "For the first time ever, we're going to see less private-sector jobs at the end of the decade than we had in the beginning of the decade. Alarm bells should be going off that we need new economic policies and job retention and growth incentives, not the same-old, tired policies that have helped push us to the brink of economic collapse.
"This bill charts a new course for the State – one in which we're a willing partner to economic expansion and private sector investment," added Senator Lesniak. "It gives New Jersey the needed shot in the arm to turn the corner and be a job creator."
Whelan Supports Higher Education Provisions In Economic Stimulus Act
TRENTON – Senator Jim Whelan said today that provisions contained within the "New Jersey Economic Stimulus Act of 2009" that pertain to higher education in New Jersey would help boost the national reputation of the State's public colleges and universities while creating new research and job opportunities for students. The "Economic Stimulus Act," which was sponsored by Senator Raymond J. Lesniak, D-Union, received final legislative approval from the Senate today by a vote of 23-14.
"Our State colleges and public universities are at a competitive disadvantage when it comes to the financing of on-campus projects and the opportunities created for students through strong public-private partnerships," said Senator Whelan, D-Atlantic, and a member of the Senate Education Committee who advocated for these policy changes while working on the higher education restructuring legislation which was approved earlier today in the Senate. "Because of the regulatory and legal blockades which prevent institutions of higher education from contracting with private entities to finance construction projects in New Jersey, colleges have to rely on inadequate State financial support or tuition revenues to build on campus. Other states have given colleges the authority to take advantage of private financing, and the results are phenomenal.
Lesniak Economic Stimulus Bill Advances In Budget Committee
TRENTON – A bill sponsored by Senator Raymond J. Lesniak which would jump-start New Jersey's economy was approved by the Senate Budget and Appropriations Committee today by a vote of 9-4, with 2 abstentions.
"While the nation and the world have been in a recession for a year, New Jersey's economy has been lagging behind for years," said Senator Lesniak, D-Union. "Our nation's economy expanded from 2003-2007 with private-sector jobs growing by 6.5%. During the 2003-2007 period, New Jersey's private sector job base grew by only 2.3%.
"Clearly, New Jersey needs a change of direction, not only to climb out of the recession, but to lead the nation in job creation," added Senator Lesniak. "My economic stimulus bill will do just that. It targets tax credits, suspends fees, paves the way for successful public-private partnerships and creates revenues for economic growth, jump-starting the State's struggling economy."
Senator Lesniak Comments On RAD Legislation
TRENTON – Senator Raymond J. Lesniak, D-Union, the Chairman of the Senate Economic Growth Committee, made the following remarks today concerning his legislation to modify the "Revenue Allocation District Financing Act," to encourage greater private investment in New Jersey's communities. The legislation was approved by the Senate Economic Growth Committee today by a vote of 4-0, with one abstention:
"The legislation we are considering today represents nothing less than the future of the State of New Jersey. If it does not pass, we will see the words of Bruce Springsteen's "My Hometown" come true: These jobs are going boys and they ain't commin' back.
** Preview ** Senate To Vote On FY 2010 Appropriations Bill, Open Space Funding, Economic Stimulus Act
TRENTON – The full Senate will meet on Thursday, June 25, at 2 pm to consider a diverse package of bills, most notably the revised $29 billion FY 2010 Appropriations Act, which is constitutionally required to be signed into law by July 1, 2009. A number of companion bills will also be voted on in order to administer the changes necessary to balance the budget.
The Senate will also consider a wide-ranging list of bills designed to stimulate New Jersey's economy, protect and preserve open space, improve mental health services, promote shared services and improve public safety. Additionally, the Senate will exercise its advise and consent duties by considering the re-nomination of Associate Justice Barry Albin to the New Jersey Supreme Court.