Tax groups join Senator Pennacchio in calling for adoption of the Transparency In Government Act at a State House press conference on September 10, 2009.
Senator Joe Pennacchio speaking about the Transparency in Government Act at State House press conference on December 8, 2008.
EMAIL ALERTS: Click here to receive email updates from Joe
A Story of Mass Hysteria Caused by a Budget Not Yet Introduced; Rated P for “Premature”
Republican members of the Senate Budget Committee today expressed bewilderment at the use of the committee’s time to hold a hearing on Governor Christie’s proposed income tax plan weeks ahead of the Governor’s Budget Message:
State Senator Joe Pennacchio (R-Morris/Passaic) issued the following statement regarding the passing of Assemblyman Alex DeCroce:
“It is with sadness that New Jersey awoke to the news that Assemblyman and Assembly Republican Leader Alex DeCroce died suddenly last night. Alex was a dedicated public official, but importantly a caring and loving husband, father and grandfather. My condolences and prayers go out to Betty Lou, their children and grandchildren.
Legislation sponsored by state Senator Joe Pennacchio (R- Morris/Passaic) preventing abuse of the state’s disability pension system has was approved, pending minor changes, by the State Pension and Health Benefits Review Commission on Friday, December 9, 2011. Responding to the panel’s vote, Senator Pennacchio issued the following statement:
“I’m pleased that the Commission has approved, with conditions, my legislation to address this very important issue. Disability pensions serve an important purpose for those injured in service to the public who incurred a legitimate disability that prevents them from continuing to work. However, this system should not become a haven for those seeking to cheat the system and collect lifetime benefits at taxpayer expense due to negligence or fraud.
Governor Christie Proposed Fix Early Last Year
Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding legislation that he will introduce to stem the abuses of the accidental disability pension system.
“In 2007, the state Supreme Court dramatically lowered the standards required to collect a tax-free, accidental disability pension. In fact, since the decision the increase of accidental disability pensions issued is more than 35 percent. In order to stem these abuses of the system allowed by the Court I will reintroduce legislation, originally proposed by Governor Christie last year as part of his original pension reform proposal, on Monday. Many aspects of the reforms will affect all of the state pension systems.”
660 Acres Will Be Restored to Provide Open Space and Recreation
Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee issued the following statement regarding the restoration of Greystone Park:
“This morning I was pleased to join with Governor Christie at Greystone Park to announce the final phase in its transformation from a dilapidated, contaminated ruin into new pastoral open space. This site has been idle for years, slowly decaying, and posing a danger to the surrounding communities.
Auditors Find $633 Million Missing from Client Accounts at Corzine’s MF Global
In light of a recent audit by regulators which found $633 million missing from client accounts at the failed investment firm of former Governor Jon Corzine, Senator Joe Pennacchio (R-26) has asked New Jersey Treasurer Andrew Sidamon-Eristoff to determine if any state funds were affected by the collapse of Corzine’s firm, MF Global.
“It’s important that the State of New Jersey work quickly to identify any investment funds that may have been impacted by the bankruptcy of MF Global,” said Pennacchio. “While the rapid collapse of Corzine’s firm is disturbing in and of itself, the investigation of any state assets that may be at risk is given added importance by the fact that regulators have indicated that client accounts may have been inappropriately raided to support the firm’s bad investments.”
Says Plan Makes More Sense than Cancelled ARC Tunnel, Billions Cheaper for NJ Taxpayers
Senator Joe Pennacchio (R-26) said that a proposal that reportedly is being considered to extend New York City’s Number 7 subway line to the Secaucus Junction rail station would provide mass transit in the region with a much needed boost in capacity, provide commuters with increased flexibility and save New Jersey taxpayers billions of dollars relative to the cancelled ARC tunnel project.
“Unlike the ARC tunnel project, which Governor Christie rightly cancelled last year, the extension of the Number 7 subway line to Secaucus Junction makes sense for New Jersey,” said Pennacchio. “While the ARC tunnel would have sent riders to a new station deep under Macy’s basement that connected to nothing else, train riders connecting to the Number 7 line at Secaucus Junction would immediately be tied into the whole New York City subway system. This makes practical sense for New Jersey commuters in a way that the ARC tunnel never did.”
Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee, announced today that he is proposing a $2 billion bond issue to alleviate flooding along the Passaic River. The bond issue would have to be approved by voters.
“The Passaic River has been flooding severely for decades, and following Hurricane Irene and Tropical Storm Lee is it obvious that the Passaic River Basin needs a long-term permanent fix,” Pennacchio began. “I have had preliminary conversations with Treasury officials and the non-partisan Office of Legislative Services to continue working on the language of the proposal.”
New Jersey Recovers $8.2 Million from Bankrupt Investment Bank
Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee who represents Morris and Passaic counties, announced today that the State of New Jersey has settled with Lehman Brothers for $8.2 million.
The Senator noted sadly that it has been more than three years since he first asked for answers about the state’s $192 million loss on an investment in the bankrupt investment bank. The investment came less than four months before Lehman, one of the largest Wall Street investment banks, went into receivership.
Calls for Hearings to Implement Solutions
Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee, sent a letter today to the Chairman of the Senate Budget and Appropriations Committee calling for an investigation of the Elizabeth School Board school lunch scandal. The program is administered by the State Department of Agriculture. Senator Pennacchio asked the Chairman to call the State Commissioner of Agriculture and the State Auditor, Steven Eells to discuss the administration of the program. The letter and a Budget Resolution are attached:
“Thanks to an expose’ in the Star-Ledger the numerous problems that have been obvious for many years in the National School Lunch Program are now a symbol of waste, fraud and abuse in the public school bureaucracy. The goals of the program are worthwhile and commendable. School children need proper nutrition to perform at their best in a learning environment.
