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A New New Deal Could Ignite New Jersey’s Ailing Economy

Asbury Park Press
December 26, 2008
By Louis Greenwald

The fact New Jersey is caught in the throes of an international economic recession is neither escapable nor debatable. New Jerseyans are becoming all too familiar with tighter household budgets and the specter of job loss. On a state level, a precipitous drop-off in revenues threatens the future of the programs many rely on.

To be sure, this recession is not New Jersey's creation, nor can New Jersey solve it all on its own. But there are steps we can and must take to help the state and its residents.

Already, Gov. Jon Corzine and the Legislature have moved together on a number of initiatives to provide direct assistance to the families that need it most, ensure families don't lose their homes to foreclosure and give businesses the tax breaks and incentives they need to stay open.

All are things that need to be done. But we should take a page from history and use this economy as a means to undertake critical projects that can provide jobs in the short-term while building infrastructure that can serve the state for the long term.

In a sense, we may not be at the doorstep of another Great Depression, but there's no reason we should not be embracing another New Deal. Rebuilding roads and bridges and constructing new schools can be the means for creating the leading edge of a recovery.

Governor Corzine Signs Legislation Encouraging Business Growth In NJ

For Release: December 19, 2008

Contact: Robert Corrales, 609-777-2600

GOVERNOR CORZINE SIGNS LEGISLATION ENCOURAGING BUSINESS GROWTH IN NJ

(TRENTON) – Gov. Jon S. Corzine today signed legislation that will make New Jersey more attractive to businesses by reforming the state’s corporate tax law – one of the final facets of the Governor's Economic Assistance and Recovery Plan.

The bill, A-2722/S-3, eliminates the so-called throw-out rule and the regular place of business requirement under state corporate business tax law.

“If we are to maintain and expand the New Jersey economy, we must employ every conceivable tool at our disposal to encourage robust business growth,” Governor Corzine said. “Through the modification and elimination of laws unfriendly to business, it speaks volumes to New Jersey’s commitment to the state’s economy and an open-door policy toward business enterprises in our state.”

Under the throw-out rule, multi-state corporations are assessed corporate income tax liabilities based on an allocation formula that takes into account income from sales that are not taxed by other states.

“Protecting our businesses now will ensure that our economic engine will not stall if the economy continues to worsen,” said Assemblyman Joseph Vas (D-Middlesex), who introduced the bill in May. “We have to be sure to remove any hurdles that are blocking economic development in these tough times.”

Greenwald, Lampitt Announce $150,000 In Home-Heating Assistance

For Release: December 17, 2008

Contact: Brian McGinnis, 856-435-1247

GREENWALD, LAMPITT ANNOUNCE $150,000
IN HOME-HEATING ASSISTANCE

Sunoco Foundation grant will cover 600 families’ home-heating bills

(PENNSAUKEN)— Assemblyman Louis Greenwald and Assemblywoman Pamela Lampitt (both D-Camden) yesterday announced a $150,000 grant from the Sunoco Foundation to the Camden County Council on Economic Opportunity.  

The grant—given as part of the Foundation’s Low Income Energy Assistance Program—will cover the home-heating bills of approximately 600 low-income families in Camden County.

“I’m proud to stand with the Sunoco Foundation to present this critically needed assistance to South Jersey families,” said Greenwald. “The current economic crisis didn’t start in New Jersey, and it won’t end in New Jersey, but it’s hitting family budgets hard. This grant will provide important help to those who need it most—those who can’t afford their heating bills as we approach the heart of winter.”

Bill To Boost New Jersey Businesses Now Law

Measure Provides $3,000 for Each New Job

(WOODBRIDGE) – Gov. Jon S. Corzine today signed into law a bill designed to help New Jersey businesses emerge stronger from the global economic crisis.

The bill is among about 40 advanced by the Assembly to help residents and businesses withstand the financial uncertainty.

The bill (A-3294) creates the “Invest New Jersey Business Grant Program” program that will help small and mid-size businesses by providing grants of $3,000 for each new job created.

Sponsored by Assembly members Nelson Albano (D-Cumberland), Matt Milam (D-Cumberland), Joseph Vas (D-Middlesex), Louis Greenwald (D-Camden) and Linda Greenstein (D-Middlesex/Mercer), the measure replaces and expands the state’s Business Retention & Relocation Assistance Grants.

“Employees and employers both need confidence that much-needed jobs will remain in New Jersey,” Albano said. “With this measure in place, we can ensure they will.”

“Businesses need this comprehensive program to both spur job development and help retain their employees here in the Garden State,” Milam said.

“This is wonderful economic stimulus legislation,” Greenstein said. “Obviously we have tremendous economic problems in this country and we have to do everything we can to make sure that we retain businesses and jobs here in New Jersey.”

Vitale, Greenwald: New Reforms Already Working To Decrease Number Of Kids Without Health Coverage

For Release: December 2, 2008

Contact: Brian McGinnis, 856-435-1247

Senator Vitale, 732-855-7441

VITALE, GREENWALD: NEW REFORMS ALREADY WORKING

TO DECREASE NUMBER OF KIDS WITHOUT HEALTH COVERAGE

(TRENTON) – Responding to a recent study that reported more than a quarter-million New Jersey children lack health coverage, Senator Joseph Vitale and Assemblyman Louis Greenwald noted that recent reforms to the NJ FamilyCare program already are cutting the number of uninsured kids in the state.

According to the national health care advocacy group Families USA, an average of 267,000 New Jersey children were without health coverage annually between 2005 and 2007. The 12.1 percent uninsured rating ranked ninth-highest in the nation.

But the lawmakers noted the number of children without coverage has since dropped to 210,000, with a further reduction expected from reforms enacted this past July that make it easier for the uninsured to be enrolled in NJ FamilyCare. Among the changes is a presumptive eligibility for all newborns.

NJ FamilyCare covers approximately 170,000 children. During the past five months, 20,000 previously uninsured parents have enrolled.