Bramnick says Murphy push to sell state assets a bad idea

Bramnick says Murphy push to sell state assets a bad idea

WESTFIELD, N.J. – Assembly Republican Leader Jon Bramnick blasted Gov. Phil Murphy’s plan to use state assets to reduce New Jersey‘s unfunded pension liability.

Jon Bramnick

“This is a wrong move,” said Bramnick (R-Union). “Before we begin selling state assets we should focus on cutting costs and reducing overall spending. In the end, only by instituting pension and health benefits reforms are we going to solve this problem.”

The Treasury Department last week sought a financial adviser to help develop and implement a strategy to “maximize value from various state assets.” The revenue would be used to support the pension system and pay down the state’s pension bonds.