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New Jersey’s Corzine Weighs More Budget Cuts as Deficit GrowsKean said Corzine’s "lack of transparency" for how he intends to close the gap adds to the state’s financial crisis. The Republican called on the governor, a first-term Democrat seeking re-election in November, to release daily updates of state revenue projections. "New Jersey seems headed for the first end-of-year deficit in state history," Kean said in a statement yesterday. "This budget chaos cannot continue." Restore funding for Arts Group
Senate Republican Leader Tom Kean, whose father, former Gov. Tom Kean, championed arts funding and has been uncharacteristically vocal in opposing Corzine's proposed cuts, recognizes that arts funding is a money-maker for the state. He notes that taxpayer-funded non-profit arts groups in New Jersey generate approximately $1.5 billion in economic activity each year and support 80,000 jobs. Governor's budget would eliminate property tax deductions, rebatesA homeowner earning $95,000, for example, would not only lose a $1,000-plus rebate. Scrapping the property tax deduction would take away another $350 or so, according to state figures. "The loss of the deduction would make home ownership even harder for New Jersey residents who are struggling to make ends meet during this recession," said Senate Minority Leader Tom Kean Jr. (R-Union). |
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