By Joel Mathis

– “Gov. Chris Christie signed a $32.5 billion state budget today that all but abandons a first-term plan to repair New Jersey’s derelict pension system, slicing $1.57 billion from a payment required by law for public workers’ retirement funds,” the Star-Ledger reports.

The budget offers increases in funding to schools and hospitals. Christie vetoed Democratic bills that would’ve raised $1.1 billion for the pension funds by taxing millionaires and businesses.

“As I have said before, I strongly believe that punitively raising taxes on our already overtaxed residents and small business owners is not the answer to the state’s short- and long-term fiscal challenges,” Christie wrote in his veto message.

PhillyLabor.com Editorial – It is understandable that Gov. Christie does not want to raise taxes on NJ residents who are already paying an absurd amount of taxes. However, why does his solution have to come only on the backs of the working men and women of NJ and not at least share the burden by imposing a millionaire’s tax on the wealthiest 1%. Just another right wing politician raging a war on working people! And some people want this guy to be our next President???? God Forbid!

Source: http://www.phillymag.com/news/2014/07/01/christie-signs-jersey-budget-deep-pension-cuts/