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Republican State Chairman Doug Steinhardt. (Photo: Kevin Sanders for New Jersey Globe)

Steinhardt hits Murphy over borrowing plan

Governor wants to bond New Jersey out of COVID-19 budget hole

By Nikita Biryukov, May 26 2020 1:53 pm

Republican State Chairman Doug Steinhardt attacked Gov. Phil Murphy over a borrowing plan he proposed to help the state fill $10 billion holes through the next fiscal year.

“Some politicians in Trenton will always be owned by the public sector labor unions,” Steinhardt said. “Governor Murphy and Speaker Coughlin would rather mortgage the State’s future with a multi-billion dollar borrowing scheme than make needed budget cuts that reduce spending and spare taxpayers the added crunch.”

Assembly Speaker Craig Coughlin has signed onto the plan, and his chamber intends to vote on the measure early next month.

Senate President Steve Sweeney has been less open to the idea.

While he hasn’t dismissed the borrowing plan out of hand, Sweeney has kept it at a distance and raised concerns about what he said was the plan’s lack of specifics.

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