Senator Thomas Kean, (R-21), issued the following statement today regarding the absence of a new school funding formula in this years budget.

            “Developing a new school funding formula is the key to providing hundreds of thousands of New Jersey families with lasting, sustainable property tax relief.  It is indefensible that nearly a year after the governor identified the urgent need for a new formula; delays have pushed the target date for the adoption of a new school funding solution out past the November elections.

            “Providing sustainable property tax relief for New Jersey’s middle class families through a new school funding formula should not be yet another cynical election year ploy.   After suffering under the burden of flat school funding for five years, which caused record property tax increases and program cuts, suburban school districts received only a 3 percent funding increase in this year’s budget.  This hardly makes up for the hundreds of millions of dollars lost during the last administration.

            “In order to successfully compete in the new global economy New Jersey’s young students need to be assured that any new school funding formula will provide impartial and unbiased assistance to everyone throughout the state. To do any less is a disservice to the students, families and teachers across the state.”