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Chris Christie’s New Budget

John on February 22, 2011 at 2:08 pm

I missed the live announcement as I was out having lunch but they will be replaying it here at 7PM PST. In the meantime, Dan Foster at NRO has a rundown:

So what are the top lines? Most important for New Jerseyans, Christie’s budget would cut government spending for the second year in a row, this time by 2.6 percent, slashing individual departmental budgets by as much as 15 percent each. It would also bring $2.5 billion in tax cuts and incentives over five years, every dollar of it paid for. It would raise the death-tax exemption (New Jersey is one of only three states with both a death and an inheritance tax); it would cut a key corporate-tax rate 25 percent to spur growth; and it would double property-tax relief for seniors and the middle class.

So sorry, NY Times, it sounds like Governor Christie is not going to fail this year after all. There’s more:

It would also fundamentally reform Medicaid in the state — to the tune of $250 million in savings in the current budget and $300 million more should the state be granted a waiver from the feds — in part by moving current recipients into modern managed-care plans.

That’s what it looks like when an executive branch leader does the “big things” instead of voting present. And for those who’ve criticized Christie for not taking a harder line on Obamacare, there’s this:

Christie also came out against “Obamacare,” saying, “We cannot make meaningful reforms because of the restrictions on New Jersey from Obamacare. States desperately need relief from that unfunded federal mandate.”

He’s right of course. I’m guessing we’ll see a lot more states filing for temporary exemptions in the next few weeks.

[HT: JustKarl on Twitter for the NRO link]

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Category: Energy & Economy, Politics |

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