DeCROCE WARNS DEP COMMISSIONER NOT TO SHIFT FROM PAY-AS-YOU-GO TO BORROWING FOR PARKLAND

 PROPOSAL TO USE CBT TAX REVENUE FOR BONDS ON TOP OF CORZINE’S $38 BILLION BORROWING SCHEME OUTRAGEOUS

Assembly Republican Leader Alex DeCroce sharply criticized a proposal floated by state Environmental Protection Commissioner Lisa Jackson at a Senate committee hearing today to use constitutionally dedicated corporate business tax (CBT) revenue now used for parkland development on a pay-as-you-go basis to back bonds instead.

“If this was a trial balloon by the commissioner, the administration should stick a pin in it immediately,” said DeCroce, R-Morris and Passaic. “Is there no end to the credit card mentality of the Corzine administration?

“How can they have the audacity to suggest even more bonding and more state debt at the same time the governor is pushing his 800 percent toll hike and nearly $40 billion bonding scheme? To talk about even more new debt now is madness.”

Jackson told the Senate Environment Committee that her department is considering using the 15 percent of the corporate business tax revenue constitutionally dedicated for parkland development – which totals $21.9 million this year – and use it to back bonds for parkland development. At present, the funds are used for parkland development on a pay-as-you-go basis. Jackson suggested some or all of it be bonded in the future.

“The taxpayers are sick and tired of getting stuck with the bill for a growing mountain of debt compiled by this and previous Democratic administrations,” DeCroce said. “I strongly suggest that the commissioner drop this idea immediately. If she won’t, then Corzine should simply tell her ‘no.’”

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