New Jersey Libertarian Party

The Party of Principle

Upcoming Events

17 Feb

Bergen LP Meeting Feb 17, 2016 - 07:00 PM The Office At Ridgewood, Ridgewood, United States

12 - 12 Mar

2016 New Jersey Libertarian Party Convention Mar 12, 2016 - 09:00 AM - Mar 12, 2016 - 06:00 PM Tavern On The Lake, Hightstown, United States

Random Quote

The United States is a nation of laws: Badly written and randomly enforced. - Frank Zappa

Subscribe To Announcements

How many eyes does a typical person have? (e.g. 1)
Name:
Email:

Understanding Corzine's Financial Scheme

After many years of overspending by both Republican and Democratic administrations, NJ state finds itself in a fiscal mess. Instead of tackling the root cause of a bloated state government, our governor has launched a plan to transfer debt and to squeeze more money out of the taxpayers.

The summary of the plan is that the state will create two state owned non-profit companies that will manage highway maintenance and toll collection for the state. These new companies will be used to hide debt and to increase toll collections.

The Public Benefit Corporation (PBC) will be created with a concession agreement with the NJ Turnpike Authority. This agreement will include an initial payment and future periodic payments to the NJ Turnpike Authority. The initial payment by the PBC shall be made by the PBC issuing bonds. The payments made shall be used by the state to pay off existing state owned debt.  In effect this scheme shall transfer debt from the state to the state owned PBC.

The second company is the Public Interest Corporation (PIC). It shall be created solely for the purpose of managing and approving the PBC board members. According to Corzine’s sales pitch, the PIC shall consist of “a majority representing stakeholder interests”.

The plan includes a 75 year plan of increasing the tolls by 50% (plus a 3% annual CPI increase) every four years. Based on his numbers the current $0.70 toll on the parkway will be $1.20 in 2010, $1.90 in 2014, $3.20 in 2018 and $5.40 in 2022.

The New Jersey Turnpike Authority, Inc. is already chartered as a Public Benefit Corporation by the state of NJ. It has around 3,500 employees. Each of its employees are treated like state employees and participate in the state pension system. One can only assume that employees of the two new companies will also participate in the state pension system.

The NJ Turnpike Authority charter expires in 2009. The plan does not get rid of the NJ Turnpike Authority, rather it adds additional layers of bureaucracy to an already over bloated system.

corzineproposal.gif

We demand that the Corzine administration perform a top to bottom evaluation of every department and agency for efficiency improvements. Every possible cut in government must be considered. Several agencies can be done away with either by merging their functions with existing agencies or leaving those functions to the private sector.

“But pigs will fly over the Statehouse before there’s a realistic level of new taxes or spending cuts that can fix this mess”

    – Governor Jon Corzine

All citizens should consider attending the town hall meetings that Corzine is holding to discuss his proposal.  NJ101.5 has formed a Flying Pigs Coalition and is planning rallies, visit their page and join the Coalition.

OPRA lawsuit seeks "informal" correspondence that revealed Bayonne lawsuits' settlement am...
OPRA lawsuit seeks

On Friday, March 4, 2016 at 9 a.m. Hudson County Superior Court Judge Joseph A. Turula will hear my Open Public Records  [ ... ]

Open Government Advocacy ProjectFull Story
Stand Up for Your Inherent Rights

Published in Suburban Trends, Dec. 16, 2015 In your December 9, "Our View" editorial ("Our Take On Guns"), you state th [ ... ]

Letters to EditorFull Story
Let People Decide for Themselves

Published in the Bergen Record, December 5, 2015 Regarding "Religion used to hide bigotry" (Your Views, Nov. 28) and "W [ ... ]

Letters to EditorFull Story
Open letter to Director of the Office of Attorney Ethics

In early 2013, I filed an ethics grievance against two attorneys in a well regarded Essex County law firm. My grievance  [ ... ]

Latest NewsFull Story
Pleasantville secretly pays $50,000 to settle police K-9 attack, excessive force lawsuit
Pleasantville secretly pays $50,000 to settle police K-9 attack, excessive force lawsuit

On October 7, 2015, the City of Pleasantville (Atlantic County) agreed to pay $50,000 to a local man who said that a pol [ ... ]

Police Accountability ProjectFull Story
Weehawken pays $747,000 to settle two lawsuits brought by police official
Weehawken pays $747,000 to settle two lawsuits brought by police official

Richard F. Turner
Weehawken Mayor On October 30, 2015, the Township of Weehawken (Hudson County) agree [ ... ]

Police Accountability ProjectFull Story
Winslow pays $2,500 to settle wrongful detention suit
 Winslow pays $2,500 to settle wrongful detention suit

Robert Stimelski
Winslow Police Chief On November 2, 2015, the Township of Winslow (Camden County) agr [ ... ]

Police Accountability ProjectFull Story
Court to determine disclosure of investigative records related to allegations of misconduc...
Court to determine disclosure of investigative records related to allegations of misconduct by Cape May Sheriff

Gary G. Schaffer
Cape May County Sheriff On Tuesday, December 8, 2015 at 10:30 a.m. Mercer County Ass [ ... ]

Police Accountability ProjectFull Story
Lawsuit seeks names of police officers who shot 14-year-old

A lawsuit filed today in Mercer County Superior Court seeks the identities and other information regarding officers from [ ... ]

Open Government Advocacy ProjectFull Story
Ex-New Jersey Detective’s Attempt to Overturn Firing for Assaulting Minor Rejected

This originally appeared on Cop Block.org. A former Camden detective, who was fired after he assaulted a 15 year old in [ ... ]

Police Accountability ProjectFull Story
Bad Regulations Can Kill: El Faro’s Sinking Is a Tragic Example
Bad Regulations Can Kill: El Faro’s Sinking Is a Tragic Example

The 790 foot cargo ship, El Faro, was lost at sea during Hurricane Joaquin. The search operation was e [ ... ]

Selected BlogsFull Story
Other Articles

Facebook

Twitter

Facebook

YouTube