Concerned that New Jersey residents already receive the lowest rate of return of any state on tax dollars sent to Washington, Senators Tom Kean (R-21), Steven Oroho (R-24) and Joe Kyrillos (R-13) questioned the equity of a new plan by President Obama to levy a new tax on investment income that would be borne disproportionately by New Jersey residents.
To help fund his multi-trillion dollar healthcare proposal, the President’s new plan, released on February 22, calls for the addition of a 2.9% Medicare tax on certain income, including that derived from interest, dividends, annuities, royalties and rent. This new tax would apply to individuals earning more than $200,000 and $250,000 for married couples filing jointly.
Kean’s Resolution to be Voted on in Key Committee as AZ Withdraws Bid to Host Biggest Game
The possibility that New Jersey will play host to Super Bowl XLVIII in 2014 gained traction over the weekend. On Friday, Arizona announced that they would no longer be applying to host the Super Bowl that year, leaving New Jersey, South Florida and Tampa as the remaining three finalists.
Senate Republican Leader Tom Kean commented today on an initiative by Governor Christie that would adjust unemployment insurance fund benefits to ensure the stability of the fund. A constitutional amendment, sponsored by Senators Kean and Sweeney, banning future raids on the unemployment fund will be voted on by the voters in November.
Senate Republican Leader Tom Kean announced today that Senator Kevin O’Toole (R-40) will be appointed to the Senate Judiciary Committee to replace Senator Bill Baroni. Senator O’Toole will replace Senator Baroni beginning with the March 1, 2010 meeting.
Senate Republican Leader Tom Kean made the following statement today after it was announced that Senator Bill Baroni has been appointed to the Port Authority of New York and New Jersey:
Senate Republican Leader Tom Kean issued the following statement praising the Judiciary Committee’s approval of Andrew Eristoff’s nomination as New Jersey treasurer. The nomination now goes to the full Senate:
“Acting Treasurer Eristoff demonstrated astonishingly deep knowledge of state finances though he has been on the job for only a few weeks,” Senator Kean said. “He answered question after question from senators with graciousness and candor.
Senate Republican Leader Tom Kean made the following statement about the uncommonly courageous leadership shown by Governor Christie in dealing with a $2.3 billion budget gap left by the past administration:
“It’s been years since New Jersey has had a governor who will talk about our state’s fiscal problems with decisiveness, honesty and courage,” Senator Kean said. “After less than two months in office, the governor has come up with a plan to close a $2.3 billion budget gap without tax increases, furloughs or disruption of our state’s schools.
Measures Would Protect Retirements of Rank-and-File Public Employees, Require Government to Meet Its Obligations
Senate President Stephen M. Sweeney and Senate Republican Leader Thomas Kean announced that bipartisan legislation to complete the unfinished business of reforming the state’s public employee pension and benefits system first begun nearly four years ago was formally introduced last night in the Senate.
The four bills would return the pension and benefits system to its original goal of ensuring the retirements of rank-and-file public employees and constitutionally require government to meet its annual pension obligations.
Senate Republican Leader Tom Kean of Union County introduced a Senate resolution today urging the NFL to select New Jersey as the location for Super Bowl XLVIII in 2014. The NFL owners’ Super Bowl Advisory Committee allowed the Meadowlands Stadium Co. to place a bid, waiving the traditional requirement that host stadiums have a minimum outdoor temperature of 50 degrees or an indoor stadium.
“New Jersey offers the best venue for the Super Bowl, period,” Kean stated. “We have the image, logistics and ambiance that is unparalleled in the world and the millions of diehard fans in this region would do everything in their power to make Super Bowl XLVIII the biggest, most talked about game in the history of the NFL.”
Senate Republican Leader Tom Kean, Senate Republican Budget Officer Tony Bucco and Senator Kevin O’Toole issued the following comments regarding the announcement by Senate President Steve Sweeney that pension and benefits reform would be a top priority.
“My colleagues and I are all-too-aware that the pensions and benefits systems are unsustainable at the current time,” Kean stated “This effort will build on the bipartisan cooperation on pension reform that was successful in the last legislative session. It is vital that we complete the process of identifying and implementing necessary reforms to ensure that rank and file employees’ retirement funds are safeguarded.”