Senate Panel Advances Wisniewski Bill Strengthening Legislative Oversight, Transparency of TTF Spending in Response to Increased Christie Borrowing
Bill Nearly Identical to Measure Vetoed Last Year by Gov. Christie; Reintroduced Following Governor’s Call for Increased Transportation Borrowing to Pay for Proposed Income Tax Cut
(TRENTON) – Legislation Assembly Deputy Speaker John S. Wisniewski sponsored to increase the reporting requirements of the state’s Financial Policy Review Board, as it concerns the state Transportation Trust Fund (TTF) was released Monday by a Senate panel.
Wisniewski reintroduced the legislation (A-3059), which now contains even more stringent reporting requirements, in the wake of Gov. Christie’s conditional veto of identical legislation and an announcement that the governor now plans to borrow an additional $260 million from the TTF to finance the governor’s proposed income tax cut, which would disproportionately benefit millionaires.
“The governor’s explanation of how he was going to fund his tax cut plan was always a little light in the reality department, but funding that plan by borrowing against the Transportation Trust Fund proves that the governor has become completely unmoored from reality in his dogged pursuit to maintain his national, right-wing credentials,” said Wisniewski (D-Middlesex), the Assembly Transportation, Public Works and Independent Authorities chair.