The public pension fund is $44 billion in debt and a bill to put a question on this November’s ballot asking voters for a constitutional amendment that would lock the state into making quarterly payments to replenish the fund by 2020 is gridlocked.
The governor said his Fairness Formula would lower property taxes in many suburbs, including an average of $2,200 in Fair Lawn, and it would give $6,600 to every non-special needs public school student in the state.
Senate President Steve Sweeney boycotted the delegate breakfast over sponsor PSE&G's contributions to a political action committee that supports candidates including New Jersey conservative Scott Garrett.
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