GOP, Dems Disagree In Essex County On NJ’s $9.9B Borrowing Plan – Livingston, NJ Patch

ESSEX COUNTY, NJ — New Jersey is ready to borrow billions of dollars to help it recover from the coronavirus outbreak. And depending on who you ask in Essex County, that’s a really good – or really bad idea.

On Wednesday, the state Supreme Court upheld the New Jersey COVID-19 Emergency Bond Act, which clears the way to borrow up to $9.9 billion to fund recovery efforts. It’s a plan that had its Republican critics worried enough to file a lawsuit, which the court ruled against.

After the Supreme Court rendered its decision, politicians across the state offered support – and criticism – of the borrowing plan.

In Essex County, which had the highest COVID-19 death count in the state as of Wednesday, opinions about the ruling were split among elected officials.

Sen. Joe Pennacchio of the 26th District called it a “sad day for New Jersey.”

Pennacchio, a Republican who represents towns including North Caldwell, Verona and West Caldwell, said the plan will mean higher property taxes.

“Incredibly, the court requires the treasurer, a governor appointee and key member of his cabinet, to certify the need for the money in the budget,” Pennacchio said. “The governor can now create an inflated budget knowing he has a New Jersey credit card to pay for it.”

“New Jersey taxpayers will be paying for this mandate for decades to come,” Pennacchio added.

But a pair of Pennacchio’s Democratic Party peers in the state Assembly disagreed.

Assemblywoman Eliana Pintor Marin of the 29th District, who represents Belleville and Newark, said she’s “grateful” for Wednesday’s ruling.

“The COVID-19 pandemic has had and continues to have a devastating impact on the state’s economy,” Pintor Marin said. “Residents, businesses, and government units have all been impacted.”

“The Bond Act provides an important solution that, along with significant cuts in spending that must be identified, will help stabilize the state budget,” Pintor Marin contended. “We did not make this decision to authorize this borrowing lightly. The historic nature of the current pandemic has led to this unprecedented last resort due to the current fiscal crisis.”

Assemblyman John McKeon of the 27th District, a sponsor of the act, also applauded the Supreme Court’s decision.

“The Supreme Court’s holding on the act’s constitutionality is consistent with the arguments advanced on the floor of the Legislature by advocates,” said McKeon, who represents towns including Caldwell, Essex Fells, Livingston, Maplewood, Millburn, Roseland, South Orange and West Orange.

“The Supreme Court focused on the language in the Constitution so crafted by the framers for the type of fiscal emergency created by the COVID-19 pandemic.”

“The opinion is well-reasoned and a victory for all New Jersey residents whom would otherwise had suffered dire consequences without this legislation,” McKeon said.

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