First district Republicans attack opponents over monetization report
By Matt Friedman, PolitickerNJ.com ReporterThe first district Republicans have seized on a new report from a Wall Street lawyer that says monetization could increase tolls by 150 percent.
The analysis by New York-based attorney Peter Humphreys, reported by the Associated Press this morning, said that issuing bonds to bring about a cash infusion would increase tolls in the long run. Although the details of the plan have not been made public by Gov. Corzine, Humphreys said that the average commuter on the Turnpike could wind up paying $2,400 a year in tolls.
State Senator Nicholas Asselta and his Assembly running mates Norris Clark and Michael Donohue have made monetization the central issue of their campaign. They’re facing Assemblyman and state Senate candidate Jeff Van Drew, along with Assemblyman Nelson Albano and newcomer Matt Milam, in one of the most fiercely competitive races in the state .
"No wonder the Governor doesn't want to release his plan to monetize our toll roads - and no wonder Jeff Van Drew is doing everything he can to deny his June 21 vote in support of this plan," said Asselta. "The Governor and his Democratic allies who already voted togive him a blank check to prepare to sell the toll roads - including Jeff Van Drew and Nelson Albano - should just scrap this outrageous plan and go back to thedrawing board."
Van Drew and Albano have, however, come out against monetization, even holding rallies against it. The two Assemblymen were the only Democrats to vote against tabling an amendment by Assemblywoman Jennifer Beck to strike preparatory monetization language from the budget, although they ultimately voted to approve the budget with the language intact.
Van Drew responded by pointing out what he said was Asselta’s hypocrisy by voting in favor of a now moot 1999 bill that authorized the lease of state assets to serve as tax shelters for businesses that could claim the depreciation value. Republicans have responded that the bill did not authorize the lease of revenue producing assets.
“It says it should be construed liberally and gives the treasurer very broad authorization to mortgage, finance and refinance,” said Van Drew. “So they say that it isn’t the intent, and they say it’s for assets without value. Well they should also say which highways they think are without value.”
Contributors
Wally Edge
Paul Sarlo, a three-term State Senator with close ties to indicted Bergen County Democratic Chairman Joseph Ferriero appears to be the leading ... >
Bob Torricelli
There's nothing more difficult to see than the history before your eyes. It sometimes takes generations to understand the significance of ... >
Michael Patrick Carroll
OK, he didn't say precisely that, but when the Chairman of the Budget Committee informs us that governmental spending is the key to prosperity, ... >
Debbie Holtz
The Star Ledger got it right last April when it gave a thumb's-up to the NJN management plan to wean “the state's only public ... >
Steve Lonegan
The sub prime mortgage melt down and its ensuing financial “crisis” has tested the mettle of all of us who believe in and support the free ... >
Dr. Joseph Marbach
I am pleased to report the results from the first national poll conducted by Environmental Studies Program in the College of Arts and Sciences at ... >
Rob Tornoe
To view a larger version of this cartoon, click here. >
Michael P. Riccards
The media, which loves headlines and knows little history, is trying to sell President Elect Obama as another Franklin Delano Roosevelt. But that ... >
Joey Novick
Whenever I get the chance to visit my parents in Florida when working a comedy gig down there, it’s like living in a “Seinfeld” episode. They ... >
Juan Melli
In an election year driven by a hemorrhaging economy and an electorate hungry for an end to divisive politics, 7th Congressional District candidate ... >
Carla Katz
A couple of weeks ago, my mother, Angelina Katz, did her second debate on behalf of Barack Obama. A debate? My mother? If you knew her, you’d be ... >
Patricia Quattrocchi
A press release on the official Union County web site admittedly made me snicker just a bit today because it brought back to mind something my late ... >
Poll
PolitickerNJ Partners
Hot Topics
| Politicker INTERACTIVE | |
 |
Lawmaker Profile Follow the funding of your representatives |
 |
270 to Win See how Obama got to the magic number |
Most Active Stories
- Bramnick backs Christie for governor; urges GOP to use Lance as a model
- Christie to resign effective Dec. 1
- Pennacchio calls on GOP state chairman to resign
- Bryant guilty on all counts
- Lonegan gubernatorial announcement coming next month
- Spadea: Crowley decision won't hinge on Christie's plans
- Wilson not certain whether he’ll stay on as GOP State Chairman after June
- Governor reacts to Christie news
- Quinnipiac: Corzine 42%, Christie 36%
- Merkt calls for Wilson's resignation
- Correction: Weiner departure was not his own idea
- Torricelli on COAH
- Two N.J. super delegates go to Obama; Norcross backs Obama; key Clinton supporters endorse Obama
- At energy policy meeting, Rose fights with cabinet and walks away
- Sixteen Democrats are on Norcross' short list for Andrews House seat
- Roughneen in court today on signature challenge
- Jackson will be Corzine's new Chief of Staff
- New Jersey's Most Powerful Law Firms
- Jersey City councilman makes it rain in Washington
- Torricelli on deer hunting
Recent Posts From Inside Edge
Quote of the Day
"Those who hold the power and corrupt the power are the ones that we're after. You know in Hudson County, is it shocking to know that most of the people we've indicted and convicted were Democrats? A Hudson County Republican would love to be indicted. It would show they were relevant." -- U.S. Attorney Christopher Christie, on WGBO, "the world's premier jazz radio station."
Recent Press Releases
- Nov 19 2008
In the News
Read the expanded Wake Up Call, our summary of today’s news media coverage.
Today’s Must Reads:
Christie's legcy― THE BERGEN RECORD
Corzine for Treasury? Don't Bet on It.― WASHINGTON POST
Immigrants still in New Jersey― THE BERGEN RECORD
Now it's the Dems' chance to be dumb― PAUL MULSHINE
Corzine likely to go nowhere― THE DAILY RECORD
SILENT ON CHARGE; LIPSKI TELLS OF ALCOHOL BATTLE― STEVEN LIPSKI
Reclaiming the narrative of an enlightened nation ― CORY BOOKER
Syndicate
What part of their opposition to the plan do they not get?
This is cynicism at its worst. And they aren't getting ink on it anywhere but here. Jeff has a much stronger record fighting and stopping tolls, while Nick sat and watched. It's not even close.
Sick Of Monetization
Am I the only person who is sick and tired of monetization? The roads are not going to be sold, the legislature will never approve it. Why can't we move on to real issues that matter? Are the Republicans so devoid of real issues that this is all they have? It is getting ridiculous. Their constant whining just turns the regular voter off.
sick or scared?
those who claim to be sick of talking about this might actually wish it away because it has more traction on the streets than we are led to believe. But I agree with talking about real issues. Republicans should really start talking about democrat failures to provide anyone with substantial and renewable property tax relief which is why democrats need republicans to keep talking about the turnpike and not the real issue. Careful what you wish for sjguy.
Asselta/One trick pony!
OK/Everyone knows the Governor is reviewing any and all possibilities to recieve a large cash infusion so state govt.can pay down debt and maintain infrastructure.Van Drew has vehemently opposed any progam that would change the status quo regarding state owned assets. To continue to try to tie Van Drew to unknown and purely speculative ideas the Governor may propose at sometime in the future is just a big lie.
Asselta/ Pascoe Embarrassment
Why is Asselta listening to this guy and sticking with this one issue. Pascoe has lost every New Jersey race he got involved in. Everytime Asselta talks about Van Drews vote for the budget and his own "NO" vote Asselta's State worker constituients are reminded that Asselta's " NO' vote was a vote against the funding of their contract. Asselta played politics with that vote and took a stand against the funding of the Union contract. Van Drew said he was against monetization so what is Asselta and Pascoe arguing against? Asselta would be better off running his own campaign.
Asselta's people just need to learn how to comment on politicsnj
Question: Outside of Reagan, how may of these commenters either work for or volunteer for the Van Drew campaign??
I especially like South Jersey Guy: "Am I the only person who is sick and tired of monetization? The roads are not going to be sold, the legislature will never approve it. Why can't we move on to real issues that matter? "
yeah suree the legislature will not approve it..before November 6th that is.
By the way if anybody actually reads that infamous paragraph in the budget it says absolutely nothing about subject to approval by the legislature.
Why would they appropriate funds for the governor if they werent going to support the measure?
backwardsjersey, backwardsargument
The selling of state assets has to be approved by the legislature. It did not say that in the budget provision because its already law. And when they voted yes on that vote it was for the entire budget, not just one provision. I think we all agree it should have been a separate vote, but it wasn't, and allowing the Governor to do a study is certainly not worth voting against property tax relief and tax cuts and certainly not worth shutting the government down again. You really need to check your facts before you make your argument. And there is very little support for it in the legislature. The Chairman of the Transportation Committee in the Assembly is vehemently and adamantly opposed to the selling or leasing or anything of the roads, as are Van Drew, Albano and Asselta. Everyone is in agreement on this issue. Let's move on to issues where they disagree.
But is they truly disagreed..
How come the motion to remove the paragraph was tabled by the Dem Majority??
Yes Van Drew and Albano voted against the tabling, but it was still a pretty big majority that kept that paragraph in there.
Plus if Van Drew and Albano were truly opposed to Asset Monetization they would have voted against the budget that still contained the paragraph. It wouldn't have mattered in the long run, the budget passed by 20 votes in the Assembly, they could have certainly made a statement.
Check my facts?
Trust me I know what I'm talking about.
If a vote is brought to the legislature maybe Van Drew and Albano will vote against it but they cant stop the machine and the majority. Thus why I said this will be passed and tolls will be raised. Unless the State Senate is evened up.
Only in New Jersey
is the Republican Party so stupid. They have made the cornerstone of their campaign, the only issue they have it seems like, that it was a great decision to vote against tax cuts, municipal aid, school aid, property tax relief, increased funding for higher education, tourism funding, funding to replenish our beaches, as well as keeping the state open to provide the services that millions of people in this state rely on every day, just to name a few.
Those obviously paled in comparison to the single provision that formally allowed the Governor to conduct a study that he had already done. Wait, what's that you say? The study had already been undertaken? No good could have come from voting against property tax relief?
Well it sure is good that we have the Republicans looking out for our best interest, rather than playing politics with people's lives. Every member of the legislature that voted against the budget because of the study provision should be ashamed of his or herself. A complete disgrace.
one party rule
If you call that real relief you got to be kidding me.
How about continuing to drive the taxpayers out of this state is caravans and continuing to put this state in so much debt that the Governor has unleashed his make toll roads 3 times higher, maybe more plan.
Your just ignorant to the real problems at hand. Republicans may be at fault for a lot of things but in this state, its a one party rule in all houses, and I for one think that HAS to change.
Just like Republicans were kicked out nationally for failing, Democrats will be kicked out statewide for failing to provide real long term solutions and not election year trick ponies.