TRENTON, N.J. – Assembly Republicans will vote against Gov. Phil Murphy’s plan to borrow up to $9.9 billion to balance the state’s budget and support filing a lawsuit blocking it’s implementation when it becomes law.
“While families and businesses must cut back and reduce spending, Governor Murphy plans to borrow ten billion dollars and will receive legislative approval,” said Assembly Republican Leader Jon Bramnick (R-Union). “More than ever before the state must make the tough decisions. Instead, Governor Murphy simply will borrow more money.”
In addition to the unconstitutionality of the plan, Murphy will impose a statewide property tax assessed on each and every homeowner and collect an additional tax to pay back the loan.