Assemblyman Erik Peterson, R-Hunterdon, Warren and Somerset, reiterated his call for the Legislature to hold a special session to address additional pension reforms. Peterson said after Tuesday’s Supreme Court decision the Legislature needs to make this issue its top priority.
“It’s time to get serious about fixing the pension system and the only way to do that is with a special session focusing on this issue,” said Peterson, who has called for a special session twice before. “This issue can only be resolved by ending the delays and finger pointing,” continued Peterson. “Everyone, including taxpayers and public employees have a vested interest in pension reform.
“The Democrats are already talking about increasing taxes,” continued Peterson. “But to tax their way out, they would need to increase the sales tax to 10 percent or increase income taxes by 29 percent. If we hold a special session, we could take a hard look at the budget and decide what can be cut to make up the revenue.”
Below is the link to the recommendations made by the bipartisan New Jersey Pension and Health Benefit Study Commission which will help resolve the state’s pension issue: