DeCROCE TO CORZINE: EVEN LEADERS IN YOUR OWN PARTY AGREE WE NEED TO REOPEN THE BUDGET

SENATE PRESIDENT CODEY SAYS STATE MUST PREPARE NOW FOR IMPACT OF FINANCIAL CRISIS ON STATE BUDGET

            Assembly Republican Leader Alex DeCroce today called on Governor Jon Corzine to reconsider his opposition to reexamining the state budget in light of the current financial crisis on Wall Street pointing out that even Democrat Senate President Richard Codey appears to agree that such a move would be wise.

            “If Governor Corzine is not willing to listen to words of warning from Republicans, maybe he will listen to members of his own party,” said DeCroce, R-Morris and Passaic. “The ongoing financial crisis could have a major impact on our state economy and on the stability of our state budget. We need to address those concerns immediately.”

            On Thursday, the entire Assembly Republican caucus sent a letter to Corzine asking him to call a special session of the Legislature to focus exclusively on the economy and how the current budget can be reduced. Corzine has thus far refused to consider such a request and has said that he has seen no evidence the Wall Street crisis will affect the state budget.

            In comments to Millennium Radio News, Codey said that he thinks, “the most important thing on our plate right now is what’s happening to our State Budget vis-a-vis the financial crisis? I think that's the first thing we gotta do. Is there anything we need to do to immediately shore up our budget for next year?”

            Codey went on to point out that, “If Wall Street doesn't do well, our budget does not do well, our revenues are way off. We've got to prepare for that and prepare now so, I think that’s our first course of business.”

            “The time to cut unnecessary spending is now before we end up with another large budget hole going into next year,” DeCroce said. “I can see no harm from us examining the budget and finding savings just as governors and elected officials in other states have already begun to do this week.”

            DeCroce noted that New York City Mayor Michael Bloomberg, California Gov. Arnold Schwarzenegger and New York Gov. David Paterson all have made additional budget cuts saving hundreds of millions of dollars.