NJGOP, Senate and Assembly Leadership PACs file suit to stop Murphy Bonding Scheme

July 16, 2020
NJGOP, Senate and Assembly Leadership PACs file suit to stop Murphy Bonding Scheme
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Today, in a near party line vote, Democrats pushed through an unconstitutional borrowing scheme with a price tag in the tens of billions of dollars. New Jersey’s courts have consistently held that it is unconstitutional to bond for general operating expenses. 
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NJGOP, Senate and Assembly Republicans are united against this scheme and upon Governor Murphy’s signature will file suit in superior court to halt it.
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NJGOP Chairman Steinhardt, Assembly Republican Leader Bramnick, and Senator Oroho jointly released the following statement:
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“For too long, this state has been burdened with debt racked up by politicians without the courage to solve the problems with which the next generation of New Jerseyans will be saddled. Governor Murphy and his Democrat co-conspirators recklessly chose the short term sugar high of more borrowing and debt over the long term interests of New Jersey and its residents.”
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“The bill passed today is unconstitutional. It’s bad policy. It is the result of giving in to special interests instead of standing up for families, businesses, and overburdened taxpayers. The responsible path forward is clear: lower taxes, fiscal restraint, government reform, and re-examination of spending priorities, but Democrat Trenton is an economic echo chamber. New Jersey has “America’s worst fiscal health” according to US News and World Report, and Governor Murphy and the Democrat legislators responsible for this scheme have piled on an added $10 billion in debt, untold billions in debt service, and an estimated half billion dollars in legal, accounting and professional fees. With the doors to the Democrat controlled state house closed, New Jersey Republicans are taking their appeal for economic common sense to the court house.”

 

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