N.J. Senate President Sweeney, Democrats propose budget to fund pensions

Taken from NorthJersey.com – June 18, 2014

Democratic leaders in the state Senate want New Jersey’s wealthiest residents and its corporations to pay higher taxes so the state can make a promised contribution into the public employee pension system.

Senate President Stephen Sweeney, D-Gloucester, and Sen. Loretta Weinberg, D-Teaneck, detailed their plan, which would also suspend some grants awarded through the state’s Economic Development Authority during a State House news conference Wednesday afternoon.

“This is fair,” Sweeney told reporters. “I think it’s reasonable.”

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