Keep the N in NJN
The Legislature had wanted to lead the negotiations with potential NJN buyers but in a compromise it was agreed that that the State Treasurer would have the power to negotiate a deal. The Legislature retains the right of approval, but likely will face a “take it or leave it” proposition from the governor who controls the money spigot. At least the governor has shown some degree of compromise. Senate President Stephen Sweeney said that NJN could get the additional funding it needs to stay on the air while lawmakers and Gov. Chris Christie come up with a plan.” Nonetheless, this “Perils of Pauline” tale continues.
Governor Christie, who has been pushing his “Tool Kit” as a solution to high property taxes, now is quoted in the hard copy Record (page 8) of today, as saying, “There’s no silver bullet to fix it.” Thank you Mr. Governor. Christie had wanted the arbitration cap to include pension and health benefit costs, over which local entities have little control. The cap compromise excludes these two costs, allows for increases above 2% in multiyear contracts if the overall increase does not exceed 2%, and calls for the limits to go away after three years. The governor secured less “wiggle room” to fudge the cost basis of the cap and a random selection of the arbitrators. As a result Police and firefighter union contracts would be limited to 2 percent annual pay increases if they seek arbitration, although arbitration is not even available in many municipalities.
The nexus between AC and horse-racing
In order to prevent war between the North and the South spilling out into the chambers of the legislature, those supporting initiatives for Atlantic City are also agreeing to benefits for the horse-racing industry. An Assembly committee yesterday voted to legalize casino internet gambling, including on-line poker, with the understanding that as much as $30 million in tax revenue would be used to subsidize horse-racing. Nearly a dozen bills designed to revive the state horse racing and Atlantic City casino industries drew bipartisan support in a key Assembly committee in Trenton on Thursday, as legislators raced to send many of the bills to Governor Christie’s desk before the end of the year.