TRENTON, N.J. – Governor Murphy’s overall approval ratings might be strong right now, but state residents aren’t as bullish on the prospect of higher taxes and new borrowing.
A poll of 500 likely New Jersey voters conducted by National Research Inc. found 23% supporting pension and benefits reforms and 21% backing budget cuts (including layoffs) over the issuance of new bonds (17%) or raising state taxes (7%).
“By significant margins, New Jersey voters recognize that tax increases are not the right prescription to get New Jersey’s fiscal house in order,” said Garden State Initiative president Regina M. Egea whose organization commissioned the poll. “Common sense reforms, that put public employee benefits on par with the private sector, coupled with measures to reduce the cost of government, enjoy broad popular support among voters.”
Last week, the N.J. Treasury announced an anticipated $10 billion revenue shortfall catalyzed by the COVID-19 economic shutdown. Governor Murphy has pitched an unconstitutional borrowing plan to plug the every-expanding budget hole.