Good Try Governor!

by: Bill Orr

Wed May 19, 2010 at 02:56:57 PM EDT

Our governor is proving himself wily as he seeks to counter the Legislature's plan to vote tomorrow on a Millionaire's Tax bill and a Funds Restoration bill. Acccording to the Star Ledger, suddenly today he announced availability of monies to eliminate his proposed increase in prescription copayments and annual deductibles on the Pharmaceutical Assistance to the Aged and Disabled Program (PAAD) recipients and annual deductibles on Senior Gold recipients.  How convenient! These newly available funds were part of the legislature's Funds Restoration bill which would specify how monies collected from the millionaire's tax were to be spent.  

So I guess we no longer need the millionaire's tax? Not so.  His restoring funds for seniors and the disabled shows his "compassion" for this group, but really seeks to remove the need for a millionaire's tax. The Funds Restoration bill is crafted to appropriate $619 million from the Millionaire's Tax not only for the PAAD program but also for the Homestead Property Tax Rebate/Credit program for seniors and the disabled. Christie's ploy is to restore $55 million for the PAAD program but nothing for property tax relief.  Naturally he is not proposing to restore library, transit, women health clinics, job training or any of the myriad of programs he is slashing in his budget.  In effect he is only restoring $55 million of the $619 million foreseen in the Legislature's bill.

The Legislature should continue with its Millionaire's Tax plan undeterred, but  present it next month to the governor, and negotiate its passage as an integral part of passing the larger budget bill.  The Legislature can also modify its Fund Restoration bill to restore other cuts.