Economic stimulus package advances in New Jersey

A New Jersey Senate committee has approved a package of 10 bills to spur job creation and economic growth in the Garden State.

The legislation advanced by the Senate budget committee Thursday provides a variety of tax exemptions, credits and loans to encourage new hiring.

Senate President Steve Sweeney says the state needs to move quickly to get the economy moving.

“Maybe if we can put some people back to work, we can start turning our economy around. Look, we want to work with the federal government but we don’t have to wait for them,” said Sweeney. “We need to move now.”

Senate Republican Budget Officer Tony Bucco said the bills are good for the economy, by he said he is concerned whether the state can afford them.

“I think that’s incumbent upon the administration and Treasury to look at that and see what we can do,” Bucco said. “Can we afford to implement them now for this budget year or do we put them off until next budget year?”

Gov. Chris Christie vetoed many of the other jobs bills the Legislature approved earlier this year.

 

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