1 00:00:00,467 --> 00:00:01,501 >> Announcer: MAJOR FUNDING FOR 2 00:00:01,501 --> 00:00:02,535 "REPORTERS ROUNDTABLE" WITH 3 00:00:02,535 --> 00:00:03,603 DAVID CRUZ IS PROVIDED BY NEW 4 00:00:03,603 --> 00:00:04,671 JERSEY REALTORS, THE VOICE FOR 5 00:00:04,671 --> 00:00:06,206 REAL ESTATE IN NEW JERSEY. 6 00:00:06,206 --> 00:00:08,808 MORE INFORMATION IS ONLINE AT 7 00:00:08,808 --> 00:00:10,877 NJREALTOR.COM. 8 00:00:10,877 --> 00:00:11,945 RWJBARNABAS HEALTH, LET'S BE 9 00:00:11,945 --> 00:00:14,547 HEALTHY TOGETHER. 10 00:00:14,547 --> 00:00:16,616 AND BY NJM INSURANCE GROUP, 11 00:00:16,616 --> 00:00:21,888 SERVING THE INSURANCE NEEDS OF 12 00:00:21,888 --> 00:00:22,689 NEW JERSEY RESIDENTS AND 13 00:00:22,689 --> 00:00:23,390 BUSINESSES FOR MORE THAN 100 14 00:00:23,390 --> 00:00:23,923 YEARS. 15 00:00:23,923 --> 00:00:24,958 PROMOTIONAL SUPPORT IS PROVIDED 16 00:00:24,958 --> 00:00:26,526 BY "NEW JERSEY BUSINESS 17 00:00:26,526 --> 00:00:27,160 MAGAZINE," THE MAGAZINE OF THE 18 00:00:27,160 --> 00:00:29,629 NEW JERSEY BUSINESS AND INDUSTRY 19 00:00:29,629 --> 00:00:30,196 ASSOCIATION. 20 00:00:30,196 --> 00:00:32,232 REPORTING TO EXECUTIVE AND 21 00:00:32,232 --> 00:00:34,334 LEGISLATIVE LEADERS IN ALL 21 22 00:00:34,334 --> 00:00:35,368 COUNTIES OF THE GARDEN STATE 23 00:00:35,368 --> 00:00:51,051 SINCE 1954. 24 00:00:51,051 --> 00:00:51,618 >> HI AND WELCOME TO 25 00:00:51,618 --> 00:00:54,487 "REPORTERS ROUNDTABLE." 26 00:00:54,487 --> 00:00:56,122 I'M COLLEEN O'DAY IN FOR DAVID 27 00:00:56,122 --> 00:00:58,458 CRUZ, WHO IS OFF THIS WEEK. 28 00:00:58,458 --> 00:01:00,326 GOVERNOR MURPHY UNVEILED HIS 29 00:01:00,326 --> 00:01:02,362 2022 BUDGET THIS WEEK, WITH NO 30 00:01:02,362 --> 00:01:05,732 NEW TAXES BUT LOTS OF SPENDING. 31 00:01:05,732 --> 00:01:07,600 $45 BILLION WORTH. 32 00:01:07,600 --> 00:01:09,402 HERE TO TALK MORE ABOUT THE 33 00:01:09,402 --> 00:01:10,937 BUDGET AND WHAT HURDLES IT MAY 34 00:01:10,937 --> 00:01:13,273 FACE FROM LAWMAKERS IS 35 00:01:13,273 --> 00:01:17,544 ASSEMBLYWOMAN ILIANA MARINE, 36 00:01:17,544 --> 00:01:20,180 CHAIR OF THE ASSEMBLY BUDGET 37 00:01:20,180 --> 00:01:20,847 COMMITTEE. 38 00:01:20,847 --> 00:01:21,114 WELCOME. 39 00:01:21,114 --> 00:01:22,048 YOUR COMMITTEE WILL TAKE THE 40 00:01:22,048 --> 00:01:23,750 GOVERNOR'S BUDGET PLAN AND CRAFT 41 00:01:23,750 --> 00:01:25,118 A DOCUMENT BASED ON IT. 42 00:01:25,118 --> 00:01:26,052 IS THERE ANYTHING YOU'VE HEARD 43 00:01:26,052 --> 00:01:28,354 SO FAR THAT YOU DISAGREE WITH 44 00:01:28,354 --> 00:01:29,189 AND WANT TO CHANGE OR ANYTHING 45 00:01:29,189 --> 00:01:31,758 THAT YOU ARE HOPING TO SEE 46 00:01:31,758 --> 00:01:33,526 THAT'S NOT INCLUDED? 47 00:01:33,526 --> 00:01:38,798 >> WELL, I THINK THAT OBVIOUSLY 48 00:01:38,798 --> 00:01:42,402 THIS IS THE FIRST BUDGET -- AND 49 00:01:42,402 --> 00:01:43,636 WE'RE SKIMMING THROUGH THE 50 00:01:43,636 --> 00:01:43,870 DETAILS. 51 00:01:43,870 --> 00:01:47,040 UNTIL WE GET A FURTHER BUDGET 52 00:01:47,040 --> 00:01:48,374 DOCUMENT, WHICH IS, USUALLY 53 00:01:48,374 --> 00:01:50,743 TAKES ABOUT TWO WEEKS I CAN'T 54 00:01:50,743 --> 00:01:51,811 SAY WHETHER THERE'S ANYTHING 55 00:01:51,811 --> 00:01:56,649 THAT I DISAGREE OR I DON'T AGREE 56 00:01:56,649 --> 00:01:57,050 WITH. 57 00:01:57,050 --> 00:01:58,318 BUT I WOULD SAY THERE ARE SOME 58 00:01:58,318 --> 00:02:00,053 THINGS IN HERE A LOT OF US WILL 59 00:02:00,053 --> 00:02:02,822 BE HAPPY, A LARGER PENSION 60 00:02:02,822 --> 00:02:03,890 PAYMENT, SCHOOL FUNDING, WHICH 61 00:02:03,890 --> 00:02:05,425 IS GOING TO BE CRITICAL IN 62 00:02:05,425 --> 00:02:07,160 GETTING OUR KIDS BACK TO SCHOOL, 63 00:02:07,160 --> 00:02:09,028 SO THERE'S A FEW GOOD THINGS, 64 00:02:09,028 --> 00:02:11,097 BUT THE DEVIL IS ALWAYS IN THE 65 00:02:11,097 --> 00:02:12,732 DETAILS, AND UNTIL WE REALLY 66 00:02:12,732 --> 00:02:14,434 START OUR BUDGET ANALYSIS, WITH 67 00:02:14,434 --> 00:02:16,402 THE BUDGET MEMBERS AND THE 68 00:02:16,402 --> 00:02:18,872 COMMISSIONERS TO DISCUSS THEIR 69 00:02:18,872 --> 00:02:20,306 BUDGETS, ONLY THEN WILL WE HAVE 70 00:02:20,306 --> 00:02:23,376 A CLEAR TIME LINE AND ALSO WHAT 71 00:02:23,376 --> 00:02:27,614 WE WOULD LIKELY AGREE WITH THE 72 00:02:27,614 --> 00:02:30,483 GOVERNOR AND THE SECRETARY. 73 00:02:30,483 --> 00:02:32,118 >> IN A STATEMENT, YOU ISSUED 74 00:02:32,118 --> 00:02:34,521 AFTER THE BUDGET ADDRESS, YOU 75 00:02:34,521 --> 00:02:35,889 SAID THE STATE'S ECONOMIC 76 00:02:35,889 --> 00:02:38,758 OUTLOOK APPEARS MORE PROMISING 77 00:02:38,758 --> 00:02:39,826 THAN ANTICIPATED LAST FALL. 78 00:02:39,826 --> 00:02:41,461 DID YOU MEAN THAT WE DIDN'T NEED 79 00:02:41,461 --> 00:02:46,032 TO BORROW $4 BILLION? 80 00:02:46,032 --> 00:02:47,934 OR WE DIDN'T NEED TO INSTITUTE 81 00:02:47,934 --> 00:02:49,202 THE MILLIONAIRE'S TAX LAST YEAR? 82 00:02:49,202 --> 00:02:51,671 >> COLLEEN, I THINK WE TOOK A 83 00:02:51,671 --> 00:02:55,375 LOOK AT WHAT APRIL -- SORRY, 84 00:02:55,375 --> 00:03:02,815 APRIL AND THE NUMBERS, THE GDP 85 00:03:02,815 --> 00:03:04,150 THE NUMBER OF CASES FOR 86 00:03:04,150 --> 00:03:04,484 UNEMPLOYMENT. 87 00:03:04,484 --> 00:03:06,252 WE WERE IN A POSITION TO TRY TO 88 00:03:06,252 --> 00:03:07,253 MAKE SURE THAT MOVING FORWARD, 89 00:03:07,253 --> 00:03:11,891 WE WERE GOING TO BE IN A BETTER 90 00:03:11,891 --> 00:03:13,026 FISCAL POSITION THAT WE WOULD 91 00:03:13,026 --> 00:03:15,195 HAVE MONEY ON HAND TO BE ABLE TO 92 00:03:15,195 --> 00:03:16,763 NOT ONLY MAKE INVESTMENTS IN 93 00:03:16,763 --> 00:03:18,998 AREAS THAT WERE CRITICALLY 94 00:03:18,998 --> 00:03:21,768 NEEDED WITH OUR HOSPITALS, WITH 95 00:03:21,768 --> 00:03:29,108 HEALTH CARE, WITH PPE, WITH 96 00:03:29,108 --> 00:03:29,742 LOANS FOR ALL BUSINESSES WHICH 97 00:03:29,742 --> 00:03:30,610 ARE STILL SUFFERING, I THINK IT 98 00:03:30,610 --> 00:03:31,544 WAS THE RIGHT DECISION. 99 00:03:31,544 --> 00:03:33,012 IT WAS THE DECISION WE HAD AT 100 00:03:33,012 --> 00:03:34,447 THE TIME AND IT WAS IN OUR BEST 101 00:03:34,447 --> 00:03:36,416 INTEREST TO MOVE ON IT, AND I 102 00:03:36,416 --> 00:03:39,152 DON'T THINK THAT ANYONE REALLY 103 00:03:39,152 --> 00:03:40,620 FORESAW THAT WE WERE GOING TO BE 104 00:03:40,620 --> 00:03:42,188 IN THIS STATE THAT WE'RE IN. 105 00:03:42,188 --> 00:03:44,457 BUT I THINK WHEN WE DO A CLEAR 106 00:03:44,457 --> 00:03:45,491 ANALYSIS AND DIG INTO THE 107 00:03:45,491 --> 00:03:46,693 NUMBERS, WE'RE GOING TO SEE THAT 108 00:03:46,693 --> 00:03:48,394 WE STILL HAVE A LOT OF WORK TO 109 00:03:48,394 --> 00:03:52,765 DO, IN ORDER TO KEEP THE ECONOMY 110 00:03:52,765 --> 00:03:53,766 GOING. 111 00:03:53,766 --> 00:03:55,768 >> THE AVERAGE PROPERTY TAX BILL 112 00:03:55,768 --> 00:03:57,971 LAST YEAR WAS MORE THAN $9,100, 113 00:03:57,971 --> 00:04:01,708 THE HIGHEST IN THE NATION, AS IT 114 00:04:01,708 --> 00:04:02,175 HAS BEEN FOR A WHILE. 115 00:04:02,175 --> 00:04:04,010 THE AMOUNT BUDGETED FOR THE 116 00:04:04,010 --> 00:04:05,178 HOMESTEAD BENEFIT PROGRAM IS 117 00:04:05,178 --> 00:04:06,446 DECLINING BECAUSE ITS PARAMETERS 118 00:04:06,446 --> 00:04:08,181 HAVE NOT KEPT PACE WITH 119 00:04:08,181 --> 00:04:08,648 INFLATION. 120 00:04:08,648 --> 00:04:10,149 IS IT TIME TO MAKE SOME CHANGES 121 00:04:10,149 --> 00:04:12,352 IN THAT PROGRAM TO GIVE PEOPLE 122 00:04:12,352 --> 00:04:14,220 MORE RELIEF, AND WHY NOT JUST 123 00:04:14,220 --> 00:04:15,922 PUT MORE MONEY INTO THE 124 00:04:15,922 --> 00:04:16,789 HOMESTEAD INSTEAD OF CREATING 125 00:04:16,789 --> 00:04:19,525 THE NEW MIDDLE CLASS TAX REBATE 126 00:04:19,525 --> 00:04:22,161 THAT THE GOVERNOR HAS 127 00:04:22,161 --> 00:04:22,462 RECOMMENDED? 128 00:04:22,462 --> 00:04:24,030 >> SO WHEN IT COMES TO THE 129 00:04:24,030 --> 00:04:24,797 HOMESTEAD, I THINK THAT'S 130 00:04:24,797 --> 00:04:27,100 SOMETHING WE'LL TAKE A LOOK AT. 131 00:04:27,100 --> 00:04:30,069 THAT'S BEEN AN IMPORTANT 132 00:04:30,069 --> 00:04:31,337 PROGRAM, THE SPEAKER'S FIRST 133 00:04:31,337 --> 00:04:32,438 YEAR, I BELIEVE. 134 00:04:32,438 --> 00:04:33,906 EITHER THE FIRST YEAR OR SECOND 135 00:04:33,906 --> 00:04:35,675 YEAR, WHEN IT WAS CUT, HE MADE 136 00:04:35,675 --> 00:04:37,510 IT A PRIORITY, AND I THINK ALL 137 00:04:37,510 --> 00:04:40,713 OF US AGREED AS A CAUCUS THAT IT 138 00:04:40,713 --> 00:04:41,848 WAS VERY IMPORTANT TO KEEP THAT 139 00:04:41,848 --> 00:04:43,449 PROGRAM RUNNING. 140 00:04:43,449 --> 00:04:45,118 I DID NOT TAKE A LOOK AT THE 141 00:04:45,118 --> 00:04:46,319 EXACT NUMBERS. 142 00:04:46,319 --> 00:04:49,922 I BELIEVE THAT THEY STILL HAVE, 143 00:04:49,922 --> 00:04:50,957 THE GOVERNOR'S OFFICE DID NOT 144 00:04:50,957 --> 00:04:53,226 MOVE ON CHANGING THE NUMBER OF 145 00:04:53,226 --> 00:04:55,194 THE QUALIFICATION, THE INCOME 146 00:04:55,194 --> 00:04:56,129 LEVEL, AND THAT COULD BE 147 00:04:56,129 --> 00:04:57,897 SOMETHING THAT WE TAKE A LOOK 148 00:04:57,897 --> 00:04:58,698 AT, ONCE WE DIVE INTO THE REST 149 00:04:58,698 --> 00:05:01,701 OF THE NUMBERS. 150 00:05:01,701 --> 00:05:04,637 >> YES, I THINK YOU'RE STILL 151 00:05:04,637 --> 00:05:08,541 LOOKING AT IT, IS IT 2006 152 00:05:08,541 --> 00:05:11,210 PROPERTY TAX AMOUNT AND THE 153 00:05:11,210 --> 00:05:12,745 $75,000 IS STILL THE INCOME? 154 00:05:12,745 --> 00:05:15,415 >> RIGHT, AND I THINK 155 00:05:15,415 --> 00:05:16,749 STATUTORILY, IT HAS CHANGED, SO 156 00:05:16,749 --> 00:05:19,652 WE'LL HAVE TO TAKE A LOOK AT 157 00:05:19,652 --> 00:05:22,455 WHETHER WE'RE GOING TO FOLLOW 158 00:05:22,455 --> 00:05:25,224 THE STATUTE OR WHETHER WE'RE 159 00:05:25,224 --> 00:05:25,858 GOING TO CONTINUE FUNDING IT AS 160 00:05:25,858 --> 00:05:26,059 IS. 161 00:05:26,059 --> 00:05:27,760 >> THERE IS SOME MONEY BUDGETED 162 00:05:27,760 --> 00:05:29,595 FOR IMPROVEMENTS TO THE STATE 163 00:05:29,595 --> 00:05:30,963 UNEMPLOYMENT SYSTEM, BUT NOWHERE 164 00:05:30,963 --> 00:05:32,265 NEAR ENOUGH FOR AN OVERHAUL, 165 00:05:32,265 --> 00:05:33,700 WHICH SOME SAY IS NEEDED. 166 00:05:33,700 --> 00:05:35,134 IS THAT CONCERNING, GIVEN THERE 167 00:05:35,134 --> 00:05:36,836 ARE STILL THOUSANDS OF PEOPLE WE 168 00:05:36,836 --> 00:05:38,471 HEAR WHO CANNOT GET THROUGH 169 00:05:38,471 --> 00:05:40,039 ONLINE OR ON THE PHONE TO GET 170 00:05:40,039 --> 00:05:42,108 THEIR BENEFITS AND REALLY ARE 171 00:05:42,108 --> 00:05:48,348 HURTING THESE DAYS? 172 00:05:48,348 --> 00:05:50,283 >> COLLEEN, WE'VE HAD 173 00:05:50,283 --> 00:05:53,252 DISCUSSIONS EVEN WHEN I CAME 174 00:05:53,252 --> 00:05:53,820 INTO TRENTON, NOT JUST THE 175 00:05:53,820 --> 00:05:54,520 DEPARTMENT OF LABOR TO BE HONEST 176 00:05:54,520 --> 00:05:55,955 WITH YOU, I THINK JUST IN 177 00:05:55,955 --> 00:05:57,223 GENERAL, TECHNOLOGY AS A WHOLE 178 00:05:57,223 --> 00:05:59,826 FOR THE STATE OF NEW JERSEY HAS 179 00:05:59,826 --> 00:06:01,294 REALLY BEEN LEFT BEHIND. 180 00:06:01,294 --> 00:06:03,229 I THINK THAT YEAR AFTER YEAR WE 181 00:06:03,229 --> 00:06:05,298 FIND MONEY TO DO PROGRAMS AND TO 182 00:06:05,298 --> 00:06:06,432 GET THINGS DONE, BUT AT THE END 183 00:06:06,432 --> 00:06:08,801 OF THE DAY, UNLESS WE REALLY 184 00:06:08,801 --> 00:06:11,871 START TO TAKE A LOOK AT OUR 185 00:06:11,871 --> 00:06:13,072 TECHNOLOGY INFRASTRUCTURE, IT'S 186 00:06:13,072 --> 00:06:14,073 ONLY GOING TO GET WORSE. 187 00:06:14,073 --> 00:06:16,109 I HAVE TO SAY WITH THE 188 00:06:16,109 --> 00:06:17,243 DEPARTMENT OF LABOR, WE CAN TRY 189 00:06:17,243 --> 00:06:18,611 TO FIX IT. 190 00:06:18,611 --> 00:06:21,581 WE SAW SOME OTHER STATES THAT 191 00:06:21,581 --> 00:06:23,316 TRIED TO FIX THEIRS, MADE LARGE 192 00:06:23,316 --> 00:06:25,385 INVESTMENTS IN THEIR TECHNOLOGY. 193 00:06:25,385 --> 00:06:26,853 HOWEVER, I THINK IT ALSO NEEDS 194 00:06:26,853 --> 00:06:28,521 TO COME AT THE FEDERAL LEVEL 195 00:06:28,521 --> 00:06:31,958 THAT THE FEDS ALSO NEED TO FIX 196 00:06:31,958 --> 00:06:34,060 THEIR SYSTEM IN ORDER FOR ALL OF 197 00:06:34,060 --> 00:06:36,295 THE FOLLOWING STATES TO 198 00:06:36,295 --> 00:06:36,829 COLLABORATE. 199 00:06:36,829 --> 00:06:39,198 LISTEN, MY OFFICE DEALS WITH 200 00:06:39,198 --> 00:06:41,234 UNEMPLOYMENT CLAIMS ALL THE 201 00:06:41,234 --> 00:06:41,434 TIME. 202 00:06:41,434 --> 00:06:42,735 IT IS STRAINING. 203 00:06:42,735 --> 00:06:43,803 I DON'T THINK THAT'S A SECRET, 204 00:06:43,803 --> 00:06:46,038 AND IT IS DEFINITELY SOMETHING 205 00:06:46,038 --> 00:06:46,739 THAT I'M HOPING THAT THE 206 00:06:46,739 --> 00:06:49,776 GOVERNOR'S OFFICE WILL BE 207 00:06:49,776 --> 00:06:51,144 WORKING ON. 208 00:06:51,144 --> 00:06:53,246 >> NOW, THERE HAVE BEEN SOME 209 00:06:53,246 --> 00:06:54,680 COMPLAINTS RECENTLY FROM BOTH 210 00:06:54,680 --> 00:06:56,048 THE LEFT AND THE RIGHT THAT THE 211 00:06:56,048 --> 00:06:57,417 LEGISLATIVE PROCESS IN GENERAL 212 00:06:57,417 --> 00:06:59,919 HAS BEEN MORE RUSHED AND LESS 213 00:06:59,919 --> 00:07:00,987 TRANSPARENT RECENTLY. 214 00:07:00,987 --> 00:07:02,655 I'M WONDERING HOW ARE YOU GOING 215 00:07:02,655 --> 00:07:03,990 TO HAVE A THOROUGH AND OPEN 216 00:07:03,990 --> 00:07:05,725 BUDGET REVIEW PROCESS AS THE 217 00:07:05,725 --> 00:07:10,963 PANDEMIC CONDITIONS? 218 00:07:10,963 --> 00:07:14,033 >> I DON'T NECESSARILY -- ON 219 00:07:14,033 --> 00:07:15,334 INSTANCES I THINK THERE'S BEEN 220 00:07:15,334 --> 00:07:16,402 CERTAIN BILLS THAT EVEN THOUGH 221 00:07:16,402 --> 00:07:18,137 IT FEELS LIKE, YOU KNOW, WE'RE 222 00:07:18,137 --> 00:07:20,339 TRYING TO HURRY UP AND FINISH 223 00:07:20,339 --> 00:07:21,974 AND GET THEM THROUGH THE FINISH 224 00:07:21,974 --> 00:07:24,544 LINE, I THINK THAT THESE ARE 225 00:07:24,544 --> 00:07:26,345 ALSO PIECES OF LEGISLATION THAT 226 00:07:26,345 --> 00:07:27,680 HAVE BEEN TALKED ABOUT FOR A 227 00:07:27,680 --> 00:07:29,315 LONG TIME. 228 00:07:29,315 --> 00:07:30,917 IT'S JUST UNFORTUNATELY MEETING 229 00:07:30,917 --> 00:07:33,286 IN PERSON HAS BEEN VERY 230 00:07:33,286 --> 00:07:35,855 DIFFICULT AND I THINK THAT WE'RE 231 00:07:35,855 --> 00:07:37,089 DOING THE RIGHT THING WHEN IT 232 00:07:37,089 --> 00:07:39,659 COMES TO SAFETY. 233 00:07:39,659 --> 00:07:41,360 THE WHOLE PROCESS, WE'RE 234 00:07:41,360 --> 00:07:43,496 PLANNING ON FOR THE PUBLIC 235 00:07:43,496 --> 00:07:45,398 HEARINGS TO BE VIA ZOOM, I THINK 236 00:07:45,398 --> 00:07:49,368 THAT'S THE SAFEST WAY, DURING 237 00:07:49,368 --> 00:07:50,603 OUR PUBLIC PARTICIPATION. 238 00:07:50,603 --> 00:07:52,505 SOMETIMES WE WOULD HAVE 50, 60, 239 00:07:52,505 --> 00:07:53,873 70 PEOPLE WAITING IN THE 240 00:07:53,873 --> 00:07:54,140 HALLWAYS. 241 00:07:54,140 --> 00:07:55,842 I DON'T THINK WE CAN DO THAT 242 00:07:55,842 --> 00:07:57,410 SAFELY, SO THAT'S GOING TO BE -- 243 00:07:57,410 --> 00:07:59,011 AND I THINK WHEN THE 244 00:07:59,011 --> 00:08:00,112 COMMISSIONERS COME BEFORE US, 245 00:08:00,112 --> 00:08:01,113 THAT'S A DISCUSSION AS TO 246 00:08:01,113 --> 00:08:02,615 WHETHER WE'RE GOING TO HAVE IT 247 00:08:02,615 --> 00:08:04,183 IN PERSON OR WHETHER WE'LL 248 00:08:04,183 --> 00:08:06,786 CONTINUE TO DO IT VIA ZOOM. 249 00:08:06,786 --> 00:08:08,855 I THINK IT'S JUST GOING TO 250 00:08:08,855 --> 00:08:10,656 DEPEND ON EVERYONE'S SAFETY 251 00:08:10,656 --> 00:08:10,990 LEVEL. 252 00:08:10,990 --> 00:08:12,592 >> ASSEMBLYWOMAN, THANK YOU FOR 253 00:08:12,592 --> 00:08:13,226 YOUR TIME. 254 00:08:13,226 --> 00:08:14,894 WE APPRECIATE IT. 255 00:08:14,894 --> 00:08:16,896 >>> NOW LET'S BRING IN OUR PANEL 256 00:08:16,896 --> 00:08:17,730 OF REPORTERS TO BREAK DOWN WHAT 257 00:08:17,730 --> 00:08:20,500 THE BUDGET MEANS FOR NEW JERSEY 258 00:08:20,500 --> 00:08:21,667 AND LOOK AT SOME OTHER NEWS THAT 259 00:08:21,667 --> 00:08:22,502 HAPPENED THIS BEAK. 260 00:08:22,502 --> 00:08:25,705 JOINING US ARE STACEY SHERMAN, 261 00:08:25,705 --> 00:08:31,911 MANAGING EDITOR OF "U.S. BEAU 262 00:08:31,911 --> 00:08:32,245 R 263 00:08:32,245 --> 00:08:34,580 BUREAUS" FOR BLOOMBERG, MATT 264 00:08:34,580 --> 00:08:36,048 FRIEDMAN AND BACK FOR ANOTHER 265 00:08:36,048 --> 00:08:39,318 WEEK, IS HE A BUDGET EXPERT, 266 00:08:39,318 --> 00:08:41,988 JOHN RITEMEYER, WITH "NJ 267 00:08:41,988 --> 00:08:43,155 SPOTLIGHT NEWS." 268 00:08:43,155 --> 00:08:44,891 WELCOME, AND LET'S GET TO IT. 269 00:08:44,891 --> 00:08:46,092 JOHN, I WANT TO START WITH YOU. 270 00:08:46,092 --> 00:08:49,428 YOU HAVE A STORY TODAY THAT 271 00:08:49,428 --> 00:08:53,332 TALKS A BIT ABOUT WHAT THE STATE 272 00:08:53,332 --> 00:08:55,201 HAS DONE WITH BORROWING AND HOW 273 00:08:55,201 --> 00:09:01,908 WE'VE KIND OF GOTTEN TO THIS 274 00:09:01,908 --> 00:09:02,975 BUDGET. 275 00:09:02,975 --> 00:09:03,910 GOVERNOR MURPHY A FEW MONTHS AGO 276 00:09:03,910 --> 00:09:04,944 LIKENED THE ECONOMIC CRISIS TO 277 00:09:04,944 --> 00:09:07,813 THE GREAT DEPRESSION, AND YOU 278 00:09:07,813 --> 00:09:10,650 HAVE THE RECORD PENSION PAYMENT. 279 00:09:10,650 --> 00:09:14,086 HOW IS THIS POSSIBLE? 280 00:09:14,086 --> 00:09:17,256 >> A BIG CHANGE IN RHETORIC IN A 281 00:09:17,256 --> 00:09:20,026 MATTER OF MONTHS AND A CHANGE IN 282 00:09:20,026 --> 00:09:22,128 FORTUNES FOR THE STATE BUDGET. 283 00:09:22,128 --> 00:09:23,563 IT WAS A FEW MONTHS AGO THERE 284 00:09:23,563 --> 00:09:26,532 WERE COMPARISONS TO THE GREAT 285 00:09:26,532 --> 00:09:28,467 DEPRESSION AND THE STATE ISSUED 286 00:09:28,467 --> 00:09:30,536 ALMOST $4 BILLION IN DEBT 287 00:09:30,536 --> 00:09:32,572 WITHOUT VOTER APPROVAL, ACTUALLY 288 00:09:32,572 --> 00:09:35,441 RECEIVED MORE THAN $4 BILLION 289 00:09:35,441 --> 00:09:36,809 BECAUSE OF THE WAY THE BONDS 290 00:09:36,809 --> 00:09:38,010 WERE WORKING AT THE TIME AND THE 291 00:09:38,010 --> 00:09:39,612 WAY THE BONDS WERE STRUCTURED. 292 00:09:39,612 --> 00:09:42,181 THAT MONEY IS IN THE SAFE 293 00:09:42,181 --> 00:09:43,883 COFFERS, AND THEN ANOTHER 294 00:09:43,883 --> 00:09:48,754 IMPORTANT FACTOR IS A LOT OF THE 295 00:09:48,754 --> 00:09:53,859 REVENUE PROJECTIONS THAT SAW 296 00:09:53,859 --> 00:09:55,194 STEEP LOSSES YEAR OVER YEAR, THE 297 00:09:55,194 --> 00:09:56,963 LATEST PROJECTIONS FROM TREASURY 298 00:09:56,963 --> 00:09:58,564 ARE ALMOST MATCHING UP AT THIS 299 00:09:58,564 --> 00:10:00,366 TIME LAST YEAR BEFORE THE 300 00:10:00,366 --> 00:10:02,435 PANDEMIC STARTED OR AT LEAST GOT 301 00:10:02,435 --> 00:10:03,536 UNDER WAY IN NEW JERSEY, WHICH 302 00:10:03,536 --> 00:10:05,938 IS PRETTY REMARKABLE, YOU COULD 303 00:10:05,938 --> 00:10:08,941 HAVE A REVENUE PROJECTION FROM 304 00:10:08,941 --> 00:10:11,410 LAST YEAR AND THEY'RE ALMOST 305 00:10:11,410 --> 00:10:16,048 GOING TO HIT THAT WITH THE 306 00:10:16,048 --> 00:10:16,983 PANDEMIC. 307 00:10:16,983 --> 00:10:21,520 DOING BETTER ON REVENUES, THERE 308 00:10:21,520 --> 00:10:22,955 WERE TAX HIKES ENACTED LAST YEAR 309 00:10:22,955 --> 00:10:25,691 AS WELL, LOOKING AT COMING OUT 310 00:10:25,691 --> 00:10:27,226 OF THE CURRENT YEAR IN THE BALL 311 00:10:27,226 --> 00:10:29,495 PARK OF $6 BILLION IN RESERVES 312 00:10:29,495 --> 00:10:33,032 BUT A TREMENDOUS NUMBER AND THE 313 00:10:33,032 --> 00:10:34,867 QUESTION FROM THERE, WHAT DO YOU 314 00:10:34,867 --> 00:10:36,569 DO WITH IT? 315 00:10:36,569 --> 00:10:39,805 DO YOU SIT ON IT AS RESERVES FOR 316 00:10:39,805 --> 00:10:41,974 THE NEXT DOWNTURN, DO YOU SPEND 317 00:10:41,974 --> 00:10:42,308 IT? 318 00:10:42,308 --> 00:10:43,743 LOOKS LIKE MURPHY WILL SPEND 319 00:10:43,743 --> 00:10:45,511 DOWN A GOOD PORTION IF LAWMAKERS 320 00:10:45,511 --> 00:10:47,880 GO ALONG WITH IT AND YOU COULD 321 00:10:47,880 --> 00:10:50,282 ARGUE ON PUBLIC WORKER PENSIONS 322 00:10:50,282 --> 00:10:54,920 AND K THROUGH 12 EDUCATION, 323 00:10:54,920 --> 00:10:57,123 SMALL BUSINESS AID, HIGHER 324 00:10:57,123 --> 00:10:57,556 EDUCATION FUNDING. 325 00:10:57,556 --> 00:10:59,659 THE DEBATE THAT GOES FORWARD, 326 00:10:59,659 --> 00:11:05,431 WHAT DO WE DO WITH THIS 327 00:11:05,431 --> 00:11:05,698 LARGESSE. 328 00:11:05,698 --> 00:11:07,967 THE PROBLEM SPENDING DOWN, HOW 329 00:11:07,967 --> 00:11:09,769 DO YOU FILL THAT GAP IN THE NEXT 330 00:11:09,769 --> 00:11:10,002 BUDGET? 331 00:11:10,002 --> 00:11:12,471 DO WE NEED CUTS OR TO RAISE 332 00:11:12,471 --> 00:11:13,472 TAXES? 333 00:11:13,472 --> 00:11:15,508 EVENTUALLY THAT BORROWED MONEY 334 00:11:15,508 --> 00:11:17,276 AND THE RELIEF THE STATE HAS 335 00:11:17,276 --> 00:11:20,546 RECEIVED GOES AWAY. 336 00:11:20,546 --> 00:11:23,282 >> THIS IS THE GOOD OLD FISCAL 337 00:11:23,282 --> 00:11:24,550 CLIFF WE'RE TALKING ABOUT, 338 00:11:24,550 --> 00:11:25,451 RIGHT? 339 00:11:25,451 --> 00:11:26,619 >> THAT'S RIGHT. 340 00:11:26,619 --> 00:11:28,454 SO WE'RE NOT EVEN TO THE NEXT 341 00:11:28,454 --> 00:11:30,856 BUDGET, BUT LET'S GO TO THE NEXT 342 00:11:30,856 --> 00:11:32,258 BUDGET AFTER THAT, AND THAT'S 343 00:11:32,258 --> 00:11:33,826 WHERE WE START TO TALK ABOUT 344 00:11:33,826 --> 00:11:35,861 WHAT ARE KNOWN AS ONE-SHOT 345 00:11:35,861 --> 00:11:38,497 REVENUES OR ONE-TIME 346 00:11:38,497 --> 00:11:41,000 NON-RECURRING SOURCES OF 347 00:11:41,000 --> 00:11:41,534 REVENUE. 348 00:11:41,534 --> 00:11:43,402 MURPHY IS PROPOSING A FULL 349 00:11:43,402 --> 00:11:44,270 PENSION CONTRIBUTION, THE FIRST 350 00:11:44,270 --> 00:11:46,572 TIME I'VE EVER COVERED ONE IN MY 351 00:11:46,572 --> 00:11:48,407 WHOLE CAREER BUT I'VE HEARD 352 00:11:48,407 --> 00:11:52,211 GOVERNORS FROM OTHER PARTIES 353 00:11:52,211 --> 00:11:53,579 BOTH PARTIES MAKE PROMISES ON 354 00:11:53,579 --> 00:11:56,515 PENSION FUNDING IN THE PAST, AND 355 00:11:56,515 --> 00:11:58,050 NOT BE ABLE TO LIVE UP TO THEM. 356 00:11:58,050 --> 00:11:59,585 THERE'S A DIFFERENCE BETWEEN A 357 00:11:59,585 --> 00:12:03,022 PROMISE PAYMENT AND WHAT GETS 358 00:12:03,022 --> 00:12:05,424 DEPOSITED INTO THE PENSION FUND 359 00:12:05,424 --> 00:12:06,559 AND I'VE SEEN GOVERNORS TRIPPED 360 00:12:06,559 --> 00:12:09,361 UP INTO THE PAST. 361 00:12:09,361 --> 00:12:10,429 >> STACEY, WE'RE TAPING THIS 362 00:12:10,429 --> 00:12:12,665 FRIDAY MORNING BUT IT'S SAFE TO 363 00:12:12,665 --> 00:12:15,601 ASSUME THE HOUSE IS GOING TO 364 00:12:15,601 --> 00:12:18,370 PASS THE STIMULUS PACKAGE TODAY. 365 00:12:18,370 --> 00:12:19,038 DOES THAT MEAN WE'LL HAVE MORE 366 00:12:19,038 --> 00:12:20,473 MONEY COMING TO THE STATE AND IF 367 00:12:20,473 --> 00:12:22,975 SO, HOW ARE WE GOING TO SPEND 368 00:12:22,975 --> 00:12:23,209 THAT? 369 00:12:23,209 --> 00:12:25,077 >> IT LOOKS PRETTY LIKELY THAT 370 00:12:25,077 --> 00:12:26,445 THE HOUSE IS GOING TO PASS IT 371 00:12:26,445 --> 00:12:27,146 TODAY. 372 00:12:27,146 --> 00:12:33,986 IT'S NOT AS CERTAIN IN THE 373 00:12:33,986 --> 00:12:34,220 SENATE. 374 00:12:34,220 --> 00:12:36,222 NEW JERSEY'S GOING TO GET A GOOD 375 00:12:36,222 --> 00:12:37,223 AMOUNT OF MONEY. 376 00:12:37,223 --> 00:12:40,025 I WAS TRYING TO LOOK AT A 377 00:12:40,025 --> 00:12:41,827 BREAKDOWN, $350 BILLION FOR 378 00:12:41,827 --> 00:12:44,196 STATES AND LOCAL GOVERNMENTS. 379 00:12:44,196 --> 00:12:46,899 I SAW REUTERS ESTIMATE IT WAS, 380 00:12:46,899 --> 00:12:49,135 IT WOULD AMOUNT TO ABOUT $1,000 381 00:12:49,135 --> 00:12:53,572 PER PERSON FOR NEW JERSEY WHICH 382 00:12:53,572 --> 00:12:54,673 IS LIKE $8 MILLION, $9 MILLION, 383 00:12:54,673 --> 00:12:56,809 AM I DOING MY MATH RIGHT? 384 00:12:56,809 --> 00:12:58,444 I'LL LET SOMEONE ELSE DO THE 385 00:12:58,444 --> 00:13:01,447 MATH. 386 00:13:01,447 --> 00:13:03,649 IT WAS A GOOD AMOUNT, SO THAT 387 00:13:03,649 --> 00:13:07,853 WILL HELP THE BUDGET SITUATION 388 00:13:07,853 --> 00:13:11,490 BUT THE FEDERAL, THAT WILL GO TO 389 00:13:11,490 --> 00:13:16,028 OUR SPECIFIC COVID RELIEF ITEM. 390 00:13:16,028 --> 00:13:18,297 >> AND MATT, IT LOOKS LIKE WE'RE 391 00:13:18,297 --> 00:13:20,299 GOING TO HAVE EVEN MORE MONEY 392 00:13:20,299 --> 00:13:21,700 COMING IN FROM LEGAL MARIJUANA 393 00:13:21,700 --> 00:13:22,501 SALES, RIGHT? 394 00:13:22,501 --> 00:13:24,970 I MEAN, POT IS FINALLY LEGAL, 395 00:13:24,970 --> 00:13:26,038 ISN'T IT? 396 00:13:26,038 --> 00:13:26,972 ANY IDEA HOW MUCH MONEY AND WHEN 397 00:13:26,972 --> 00:13:29,275 THIS IS GOING TO START COMING 398 00:13:29,275 --> 00:13:29,775 IN? 399 00:13:29,775 --> 00:13:32,244 >> ASSUMING THEY CAN, YOU KNOW, 400 00:13:32,244 --> 00:13:33,712 THE GOVERNOR SAID ABOUT SIX 401 00:13:33,712 --> 00:13:36,115 MONTHS PLUS OR MINUS. 402 00:13:36,115 --> 00:13:37,416 GIVEN HOW LONG IT TOOK US TO GET 403 00:13:37,416 --> 00:13:39,385 THIS LAW IN PLACE, I'M GOING TO 404 00:13:39,385 --> 00:13:41,520 GO WITH A PLUS ON THAT ONE. 405 00:13:41,520 --> 00:13:44,857 A LOT OF PLUS. 406 00:13:44,857 --> 00:13:46,325 JUST FROM HAVING WATCHED THIS 407 00:13:46,325 --> 00:13:47,927 ALL HAPPEN, SIX MONTHS SEEMS 408 00:13:47,927 --> 00:13:49,361 OPTIMISTIC TO ME IN TERMS OF 409 00:13:49,361 --> 00:13:52,765 GETTING THIS IN PLACE, AND I 410 00:13:52,765 --> 00:13:55,467 ALSO, YOU KNOW, THE AMOUNT OF, 411 00:13:55,467 --> 00:13:58,037 HOW MUCH ARE WE REALLY GOING TO 412 00:13:58,037 --> 00:13:59,038 HAVE PEOPLE SELLING IT IN SIX 413 00:13:59,038 --> 00:14:01,407 MONTHS AND ULTIMATELY, WE'RE 414 00:14:01,407 --> 00:14:03,042 TALKING ABOUT A COUPLE HUNDRED 415 00:14:03,042 --> 00:14:04,143 MILLION DOLLARS HERE IN THE BIG 416 00:14:04,143 --> 00:14:05,544 SCHEME OF THINGS IN THE BUDGET 417 00:14:05,544 --> 00:14:06,679 IT'S NOT THAT MUCH. 418 00:14:06,679 --> 00:14:07,980 AS FAR AS PLANNING FOR THE 419 00:14:07,980 --> 00:14:11,150 BUDGET, IT'S HARD TO FAULT THE 420 00:14:11,150 --> 00:14:13,118 ADMINISTRATION, THE LEGISLATURE 421 00:14:13,118 --> 00:14:15,621 FOR SAYING WE'RE FACING A DIRE 422 00:14:15,621 --> 00:14:17,022 FISCAL SITUATION AND NEED TO 423 00:14:17,022 --> 00:14:20,226 CONSIDER BORROWING. 424 00:14:20,226 --> 00:14:20,860 BUT I DON'T THINK -- MARIJUANA 425 00:14:20,860 --> 00:14:21,594 IS NOT A SAVIOR. 426 00:14:21,594 --> 00:14:23,028 IT WILL BE A SIGNIFICANT CHUNK 427 00:14:23,028 --> 00:14:25,030 IN THE BUDGET BUT NOT HUGE IN 428 00:14:25,030 --> 00:14:26,732 THE BIG SCHEME OF THINGS AND 429 00:14:26,732 --> 00:14:28,567 FRANKLY, I'LL BE SURPRISED IF WE 430 00:14:28,567 --> 00:14:31,170 GET IT, IF WE START SEEING THAT 431 00:14:31,170 --> 00:14:32,771 MONEY REALLY IN A VERY 432 00:14:32,771 --> 00:14:35,040 SIGNIFICANT WAY IN THIS BUDGET. 433 00:14:35,040 --> 00:14:37,810 >> I THINK VERY INTERESTING, HOW 434 00:14:37,810 --> 00:14:38,844 GOVERNORS PLAY THE WHOLE 435 00:14:38,844 --> 00:14:39,645 MARIJUANA THING. 436 00:14:39,645 --> 00:14:42,214 THEY TALK ABOUT IT AS IF IT'S A 437 00:14:42,214 --> 00:14:45,150 BIG LIFELINE, WHEN REALLY FOR 438 00:14:45,150 --> 00:14:46,185 NEW JERSEY AND OTHER STATES, 439 00:14:46,185 --> 00:14:48,087 EVEN WHEN IT'S FULLY AMENDED, 440 00:14:48,087 --> 00:14:50,122 WE'RE TALKING A COUPLE HUNDRED 441 00:14:50,122 --> 00:14:53,826 MILLION DOLLARS IN, YOU KNOW, A 442 00:14:53,826 --> 00:14:58,230 $40 BILLION-SOMETHING BUDGET. 443 00:14:58,230 --> 00:14:59,899 IT'S A GOOD, IT'S GOOD FOR THEM 444 00:14:59,899 --> 00:15:04,637 TO SAY WE GOT MARIJUANA, IT'S A 445 00:15:04,637 --> 00:15:04,870 PANACEA. 446 00:15:04,870 --> 00:15:06,972 >> RIGHT, RIGHT. 447 00:15:06,972 --> 00:15:08,374 MATT, IS THERE ANY PART OF LEGAL 448 00:15:08,374 --> 00:15:10,209 WEED THAT ISN'T MIRED IN 449 00:15:10,209 --> 00:15:10,509 CONTROVERSY? 450 00:15:10,509 --> 00:15:12,044 ON THURSDAY, THE GOVERNOR 451 00:15:12,044 --> 00:15:12,978 ANNOUNCED THREE MORE 452 00:15:12,978 --> 00:15:15,114 APPOINTMENTS TO THE CANNABIS 453 00:15:15,114 --> 00:15:16,115 REGULATORY COMMISSION AND ALMOST 454 00:15:16,115 --> 00:15:18,550 IMMEDIATELY, HE WAS CRITICIZED 455 00:15:18,550 --> 00:15:20,586 BY SOCIAL JUSTICE ADVOCATES 456 00:15:20,586 --> 00:15:21,987 SAYING THE COMMISSION'S 457 00:15:21,987 --> 00:15:23,822 MEMBERSHIP DOES NOT 458 00:15:23,822 --> 00:15:24,757 APPROPRIATELY REFLECT THE 459 00:15:24,757 --> 00:15:25,858 COMMUNITIES THAT WERE MOST HURT 460 00:15:25,858 --> 00:15:27,259 BY THE WAR ON DRUGS. 461 00:15:27,259 --> 00:15:29,595 DO THEY HAVE A POINT? 462 00:15:29,595 --> 00:15:31,597 >> WELL, IN TERMS OF THERE NOT 463 00:15:31,597 --> 00:15:33,999 BE A BLACK MAN ON IT AND NO ONE 464 00:15:33,999 --> 00:15:36,669 IS HURT MORE BY MARIJUANA 465 00:15:36,669 --> 00:15:39,071 ARRESTS THAN BLACK MEN, YES. 466 00:15:39,071 --> 00:15:40,739 OVERALL, I THINK ALSO A BIG PART 467 00:15:40,739 --> 00:15:43,309 OF THE CONTROVERSY RIGHT NOW IS 468 00:15:43,309 --> 00:15:44,843 THAT IT REALLY -- I THINK A LOT 469 00:15:44,843 --> 00:15:47,880 OF NEW JERSEYIANS, I DON'T KNOW 470 00:15:47,880 --> 00:15:50,115 HOW MUCH THIS WILL PLAY BUT A 471 00:15:50,115 --> 00:15:53,218 LOT WILL THINK IT'S RIDICULOUS 472 00:15:53,218 --> 00:15:55,020 IF A COP FINDS A KID SMOKING 473 00:15:55,020 --> 00:15:57,456 WEED, THEY CAN'T TELL THEIR 474 00:15:57,456 --> 00:15:57,923 PARENTS. 475 00:15:57,923 --> 00:15:59,792 BUT THAT WAS A COMPROMISE, 476 00:15:59,792 --> 00:16:02,461 REALLY LAST-MINUTE THING IN A 477 00:16:02,461 --> 00:16:04,363 DESPERATE EFFORT TO WIN SUPPORT 478 00:16:04,363 --> 00:16:06,098 FOR THIS CLEANUP BILL SO THE 479 00:16:06,098 --> 00:16:08,567 GOVERNOR COULD SIGN THE LEGAL 480 00:16:08,567 --> 00:16:09,268 MARIJUANA LEGISLATION. 481 00:16:09,268 --> 00:16:10,469 REPUBLICANS ARE HAVING A FIELD 482 00:16:10,469 --> 00:16:12,871 DAY WITH IT, BUT I THINK ONE 483 00:16:12,871 --> 00:16:14,940 POINT THAT WE MISS IS THAT 67% 484 00:16:14,940 --> 00:16:17,509 OF PEOPLE VOTED FOR LEGAL 485 00:16:17,509 --> 00:16:20,079 MARIJUANA AND THEN DEMOCRATIC 486 00:16:20,079 --> 00:16:22,581 INFIGHTING BASICALLY DERAILED 487 00:16:22,581 --> 00:16:24,016 THAT FOR MONTHS. 488 00:16:24,016 --> 00:16:25,784 WHAT REPUBLICANS -- IT'S EASY TO 489 00:16:25,784 --> 00:16:28,253 SIT BACK AND WATCH DEMOCRATS 490 00:16:28,253 --> 00:16:29,221 SCREW THINGS UP. 491 00:16:29,221 --> 00:16:30,856 WHAT IF REPUBLICANS KIND OF CAME 492 00:16:30,856 --> 00:16:33,659 TO THE TABLE HERE AND SAID OKAY, 493 00:16:33,659 --> 00:16:34,460 WE'LL WORK WITH YOU ON THIS 494 00:16:34,460 --> 00:16:39,865 CLEANUP BILL AND THAT WAY IF RON 495 00:16:39,865 --> 00:16:41,600 RICE AND TAKE A LOT OF LAWMAKERS 496 00:16:41,600 --> 00:16:43,402 WITH THEM, WILL HAVE ANOTHER 497 00:16:43,402 --> 00:16:45,104 PRESSURE RELEASE VALVE WHERE WE 498 00:16:45,104 --> 00:16:47,206 CAN FIND SOME VOTES. 499 00:16:47,206 --> 00:16:49,875 IF THERE HAD BEEN AN EFFORT, WHO 500 00:16:49,875 --> 00:16:51,343 KNOWS IF WE WOULD HAVE HAD THIS 501 00:16:51,343 --> 00:16:52,177 CURRENT LAW IN PLACE. 502 00:16:52,177 --> 00:16:54,713 I THINK YOU'LL HEAR A LOT IN 503 00:16:54,713 --> 00:16:55,914 THIS ELECTION YEAR, THE FACT 504 00:16:55,914 --> 00:16:57,383 THAT POLICE WON'T BE ABLE TO 505 00:16:57,383 --> 00:16:59,318 NOTIFY PARENTS ON THE FIRST 506 00:16:59,318 --> 00:16:59,551 OFFENSE. 507 00:16:59,551 --> 00:17:01,487 I BELIEVE THEY CAN ON THE 508 00:17:01,487 --> 00:17:01,720 SECOND. 509 00:17:01,720 --> 00:17:03,055 BUT RIGHT NOW, I THINK THAT'S 510 00:17:03,055 --> 00:17:05,424 WHAT A LOT OF PEOPLE ARE REALLY 511 00:17:05,424 --> 00:17:06,725 TALKING ABOUT WITH MARIJUANA AND 512 00:17:06,725 --> 00:17:07,526 IT'S A VALID POINT. 513 00:17:07,526 --> 00:17:09,661 I THINK THERE'S BEEN A LOT OF 514 00:17:09,661 --> 00:17:11,163 OVERBLOWN STUFF HOW HARMFUL 515 00:17:11,163 --> 00:17:14,166 MARIJUANA IS, BUT CERTAINLY IF A 516 00:17:14,166 --> 00:17:16,335 CHILD IS USING IT, IT'S KIND OF 517 00:17:16,335 --> 00:17:18,670 HARD TO ARGUE THEIR PARENTS 518 00:17:18,670 --> 00:17:20,205 SHOULDN'T KNOW. 519 00:17:20,205 --> 00:17:21,173 >> YES. 520 00:17:21,173 --> 00:17:23,509 STACEY, SO WE'VE GOT LEGAL WEED 521 00:17:23,509 --> 00:17:25,210 AND WE'VE GOT THIS BUDGET 522 00:17:25,210 --> 00:17:25,477 PROPOSAL. 523 00:17:25,477 --> 00:17:27,046 DO THESE THINGS HELP OR HURT 524 00:17:27,046 --> 00:17:29,782 GOVERNOR MURPHY IN THIS ELECTION 525 00:17:29,782 --> 00:17:30,649 YEAR? 526 00:17:30,649 --> 00:17:33,585 >> I THINK THIS WAS A WELL 527 00:17:33,585 --> 00:17:34,987 THOUGHT OUT BUDGET. 528 00:17:34,987 --> 00:17:39,258 IT WAS, YOU KNOW, I COVERED 529 00:17:39,258 --> 00:17:40,259 ELECTIONS WAY TOO LONG, 30 530 00:17:40,259 --> 00:17:40,626 YEARS. 531 00:17:40,626 --> 00:17:43,529 I'VE SEEN A LOT OF ELECTION YEAR 532 00:17:43,529 --> 00:17:44,863 BUDGETS AND THIS ELECTION YEAR 533 00:17:44,863 --> 00:17:46,632 BUDGET IF I'VE EVER SEEN ONE, 534 00:17:46,632 --> 00:17:50,369 THERE ARE A LOT OF THINGS IN IT 535 00:17:50,369 --> 00:17:53,505 THAT WILL HELP THE GOVERNOR. 536 00:17:53,505 --> 00:17:56,041 THERE'S NO TAX INCREASES. 537 00:17:56,041 --> 00:17:58,544 THERE'S THE BIG PENSION PAYMENT. 538 00:17:58,544 --> 00:18:02,214 THERE'S RELATIVELY, YOU KNOW, 539 00:18:02,214 --> 00:18:03,715 LITTLE CUTS AND A LOT OF 540 00:18:03,715 --> 00:18:05,784 SPENDING ON A WHOLE BUNCH OF 541 00:18:05,784 --> 00:18:06,452 DIFFERENT PROGRAMS THAT WILL 542 00:18:06,452 --> 00:18:10,722 MAKE A LOT OF INTERESTS HAPPY. 543 00:18:10,722 --> 00:18:11,924 >> AND HOW ABOUT COVID? 544 00:18:11,924 --> 00:18:14,293 WHEN WE FACTOR IN COVID-19 AND 545 00:18:14,293 --> 00:18:16,328 WHERE WE ARE TODAY, HOW THE 546 00:18:16,328 --> 00:18:18,530 GOVERNOR HAS HANDLED THIS SO 547 00:18:18,530 --> 00:18:19,198 FAR. 548 00:18:19,198 --> 00:18:22,701 HE'S NOW BEGUN TO SLOWLY REOPEN 549 00:18:22,701 --> 00:18:24,369 THE STATE. 550 00:18:24,369 --> 00:18:25,938 I NOTICE HE MADE SOME 551 00:18:25,938 --> 00:18:27,139 ANNOUNCEMENTS ON MONDAY, THE DAY 552 00:18:27,139 --> 00:18:28,707 BEFORE HE PUT HIS BUDGET IN 553 00:18:28,707 --> 00:18:31,276 PLACE, AND THEN NOTED THAT IN 554 00:18:31,276 --> 00:18:31,710 THE SPEECH. 555 00:18:31,710 --> 00:18:33,278 BUT WE'VE GOT A LOT OF SCHOOLS 556 00:18:33,278 --> 00:18:36,181 THAT REMAIN CLOSED TO IN-PERSON 557 00:18:36,181 --> 00:18:37,015 INSTRUCTION, AND OF COURSE 558 00:18:37,015 --> 00:18:38,450 VACCINES ARE STILL VERY LIMITED. 559 00:18:38,450 --> 00:18:40,986 HOW DO YOU THINK THIS PLAYS OUT? 560 00:18:40,986 --> 00:18:43,722 >> I THINK IT'S ALL ABOUT 561 00:18:43,722 --> 00:18:47,793 GETTING THE ECONOMY BACK AND 562 00:18:47,793 --> 00:18:57,169 THAT BEGINS WITH VACCINES AND IT 563 00:18:57,169 --> 00:18:58,370 BEGINS WITH GETTING SCHOOLS 564 00:18:58,370 --> 00:18:58,737 BACK. 565 00:18:58,737 --> 00:19:00,105 I HEARD THE GOVERNOR TALKING 566 00:19:00,105 --> 00:19:02,741 ABOUT WOMEN AND HOW THEY HAVE 567 00:19:02,741 --> 00:19:06,545 BEEN A LESSER PART OF THE 568 00:19:06,545 --> 00:19:08,714 WORKFORCE BECAUSE THEY'VE BEEN 569 00:19:08,714 --> 00:19:09,815 HOME WITH THEIR KIDS AND THE KEY 570 00:19:09,815 --> 00:19:12,117 TO THE ECONOMY IS GETTING THE 571 00:19:12,117 --> 00:19:14,119 SCHOOLS BACK OPEN AND GETTING 572 00:19:14,119 --> 00:19:19,424 WOMEN BACK IN THE WORKFORCE OUT 573 00:19:19,424 --> 00:19:22,094 OF THEIR HOMES AND I THINK THAT 574 00:19:22,094 --> 00:19:25,464 IS GETTING THAT DONE AND 575 00:19:25,464 --> 00:19:26,131 SIGNIFICANTLY BEFORE THE 576 00:19:26,131 --> 00:19:29,434 ELECTION WILL BE KEY FOR 577 00:19:29,434 --> 00:19:30,936 GOVERNOR MURPHY. 578 00:19:30,936 --> 00:19:37,476 >> JOHN, YOU KNOW, YOU'VE 579 00:19:37,476 --> 00:19:38,610 WRITTEN ABOUT PROPERTY TAXES AND 580 00:19:38,610 --> 00:19:41,547 THE INCREASE THIS YEAR, A RECORD 581 00:19:41,547 --> 00:19:42,614 HIGH. 582 00:19:42,614 --> 00:19:43,715 IN ADDITION, THE GOVERNOR DID 583 00:19:43,715 --> 00:19:48,287 GET TO MORE THAN $2 BILLION FROM 584 00:19:48,287 --> 00:19:49,855 THE FEDERAL GOVERNMENT FOR COVID 585 00:19:49,855 --> 00:19:53,158 RELIEF AND MANY BUSINESS AND 586 00:19:53,158 --> 00:19:55,394 RESTAURANT OWNERS SAYS THAT 587 00:19:55,394 --> 00:19:56,528 HASN'T HELPED THEM AND SLOW COME 588 00:19:56,528 --> 00:20:04,102 OUT AND THOSE GUYS VOTE, TOO. 589 00:20:04,102 --> 00:20:07,172 WHAT IS YOUR SENSE FOR HOW THAT 590 00:20:07,172 --> 00:20:10,642 HELPS GOVERNOR MURPHY AND HIS 591 00:20:10,642 --> 00:20:11,376 ELECTION CHANCES. 592 00:20:11,376 --> 00:20:12,544 >> THE GOVERNOR HAS HAD 593 00:20:12,544 --> 00:20:13,879 FORMIDABLE APPROVAL RATINGS FOR 594 00:20:13,879 --> 00:20:14,980 THE LAST SEVERAL MONTHS DUE TO 595 00:20:14,980 --> 00:20:18,116 HIS HANDLING OF THE COVID 596 00:20:18,116 --> 00:20:29,461 RESPONSE. 597 00:20:29,461 --> 00:20:30,862 ONCE THAT PERSON STARTS TO 598 00:20:30,862 --> 00:20:34,399 APPEAR ON TV COMMERCIALS, ON THE 599 00:20:34,399 --> 00:20:38,136 STAGE WITH YOU AT DEBATES, A 600 00:20:38,136 --> 00:20:39,738 WHOLE NEW SET OF ISSUES COME 601 00:20:39,738 --> 00:20:40,739 FORWARD. 602 00:20:40,739 --> 00:20:44,076 THAT'S WHERE WE TAKE A LOT OF 603 00:20:44,076 --> 00:20:44,743 FLACK ON THINGS LIKE MOTOR 604 00:20:44,743 --> 00:20:48,780 VEHICLES AND THE HANDLING OF THE 605 00:20:48,780 --> 00:20:50,515 UNEMPLOYMENT SYSTEM AND 606 00:20:50,515 --> 00:20:51,383 INTERESTING TO SEE WHEN SOMEBODY 607 00:20:51,383 --> 00:20:55,520 IS GOING NEGATIVE AGAINST THIS 608 00:20:55,520 --> 00:20:57,155 GOVERNOR, WHETHER THAT BRINGS 609 00:20:57,155 --> 00:20:59,124 HIM DOWN OR NOT. 610 00:20:59,124 --> 00:21:00,225 PROPERTY TAXES, THE STATE DOES 611 00:21:00,225 --> 00:21:01,960 NOT LEVY BUT THE STATE DOES A 612 00:21:01,960 --> 00:21:06,164 LOT THAT INFLUENCES PROPERTY 613 00:21:06,164 --> 00:21:09,301 TAXES SO EDUCATION AID, 614 00:21:09,301 --> 00:21:11,169 MUNICIPAL AID, THE DIRECT 615 00:21:11,169 --> 00:21:12,738 PROPERTY TAX RELIEF PROGRAMS YOU 616 00:21:12,738 --> 00:21:14,640 TALKED TO THE ASSEMBLYWOMAN 617 00:21:14,640 --> 00:21:18,477 ABOUT, THOSE GO INTO THE MIX BUT 618 00:21:18,477 --> 00:21:20,145 THE GOVERNOR HAS ANOTHER TRUMP 619 00:21:20,145 --> 00:21:21,413 CARD COMING BECAUSE IN A FEW 620 00:21:21,413 --> 00:21:23,415 MONTHS, THERE'S THAT DIRECT 621 00:21:23,415 --> 00:21:27,919 REBATE PROGRAM THAT'S FUNDED 622 00:21:27,919 --> 00:21:31,390 WITH THE NEW BUDGET SENDING 623 00:21:31,390 --> 00:21:33,225 PEOPLE CHECKS UP TO $500 BEFORE 624 00:21:33,225 --> 00:21:37,763 THEY GO VOTE FOR A GOVERNOR AND 625 00:21:37,763 --> 00:21:38,797 LAWMAKERS, AND SO IT'S GOING TO 626 00:21:38,797 --> 00:21:40,299 BE INTERESTING TO SEE HOW THIS 627 00:21:40,299 --> 00:21:41,667 PLAYS OUT OVER THE NEXT FEW 628 00:21:41,667 --> 00:21:44,202 MONTHS WITH THE PANDEMIC AND THE 629 00:21:44,202 --> 00:21:45,137 UNPREDICTABILITY OF THAT ALL IN 630 00:21:45,137 --> 00:21:48,240 THE BACKDROP. 631 00:21:48,240 --> 00:21:50,175 CERTAINLY THE SPORTS FRANCHISES 632 00:21:50,175 --> 00:21:53,845 ARE HAPPY TO SEE WHEN IT'S 633 00:21:53,845 --> 00:21:55,314 LIFTED BECAUSE SOME OF US WHO 634 00:21:55,314 --> 00:21:56,882 LIKE SPORTS MAY ACTUALLY BE ABLE 635 00:21:56,882 --> 00:21:59,785 TO GO SEE A GAME SOMEDAY. 636 00:21:59,785 --> 00:22:01,320 >> MATT, TO SWITCH GEARS A 637 00:22:01,320 --> 00:22:01,953 LITTLE BIT. 638 00:22:01,953 --> 00:22:04,423 ALTHOUGH THERE IS SOME ELECTION 639 00:22:04,423 --> 00:22:05,891 IMPLICATION HERE, NEW JERSEY 640 00:22:05,891 --> 00:22:07,659 LOST A REPUBLICAN INSTITUTION 641 00:22:07,659 --> 00:22:09,261 LAST SATURDAY WITH THE DEATH OF 642 00:22:09,261 --> 00:22:14,933 SENATOR GERALD CARDINALLI IN THE 643 00:22:14,933 --> 00:22:16,435 LEGISLATURE FOR 42 YEARS. 644 00:22:16,435 --> 00:22:17,869 WHAT IS HIS LEGACY? 645 00:22:17,869 --> 00:22:21,406 >> DEEPLY CONSERVATIVE. 646 00:22:21,406 --> 00:22:21,707 QUESTIONING. 647 00:22:21,707 --> 00:22:24,876 IN THE JUDICIARY COMMITTEE BILLS 648 00:22:24,876 --> 00:22:27,279 THAT OFTEN SEEMED NOT EVEN 649 00:22:27,279 --> 00:22:29,948 POLITICALLY CONTROVERSIAL NOW. 650 00:22:29,948 --> 00:22:32,484 GERRY CARDINALLI HAD SOMETHING 651 00:22:32,484 --> 00:22:36,988 TO SAY AND OFTEN THOUGHTFUL. 652 00:22:36,988 --> 00:22:39,691 HE WAS A SMART GUY AND WELL 653 00:22:39,691 --> 00:22:41,793 RESPECTED EVEN THOUGH HE WAS 654 00:22:41,793 --> 00:22:43,095 VERY CONSERVATIVE FOR NEW JERSEY 655 00:22:43,095 --> 00:22:44,563 AND A DISTRICT THAT IS 656 00:22:44,563 --> 00:22:45,931 REPUBLICAN LEANING BUT NOT AS 657 00:22:45,931 --> 00:22:46,798 CONSERVATIVE AS HE IS. 658 00:22:46,798 --> 00:22:48,300 HE WAS ALSO I THOUGHT VERY 659 00:22:48,300 --> 00:22:50,001 PRINCIPLED IN A LOT OF WAYS, IN 660 00:22:50,001 --> 00:22:51,570 THE MARIJUANA DEBATE, HE WAS 661 00:22:51,570 --> 00:22:54,673 VERY ANTI-MARIJUANA, AND A LOT 662 00:22:54,673 --> 00:22:58,276 OF ATTITUDES ABOUT THE 663 00:22:58,276 --> 00:23:02,547 SUBSTANCE, KIND OF ROOTED IN OLD 664 00:23:02,547 --> 00:23:09,187 STUFF BUT ONCE 67% OF NEW 665 00:23:09,187 --> 00:23:10,088 JERSEYIANS SAID AS LONG AS 666 00:23:10,088 --> 00:23:11,523 THEY'VE DONE THIS, WHY SHOULDN'T 667 00:23:11,523 --> 00:23:13,825 THEY BE ABLE TO GROW IT AND 668 00:23:13,825 --> 00:23:15,360 INTRODUCED A BILL MUCH MORE 669 00:23:15,360 --> 00:23:16,194 PROGRESSIVE THAN ANYTHING ANY 670 00:23:16,194 --> 00:23:18,196 DEMOCRATS THAT I KNOW OF HAD PUT 671 00:23:18,196 --> 00:23:19,498 FORWARD AND A LOT OF NEW 672 00:23:19,498 --> 00:23:20,932 JERSEYIANS TO GROW UP TO 673 00:23:20,932 --> 00:23:21,767 SOMETHING LIKE SIX PLANTS. 674 00:23:21,767 --> 00:23:23,001 I DON'T KNOW WHAT THE FUTURE OF 675 00:23:23,001 --> 00:23:25,937 THAT BILL IS NOW, ESPECIALLY 676 00:23:25,937 --> 00:23:27,672 WITH HIM HAVING DIED. 677 00:23:27,672 --> 00:23:29,741 IT'S ALSO SOMETHING THAT THE 678 00:23:29,741 --> 00:23:31,676 LEGISLATURE IS ABOUT TO UNDERGO 679 00:23:31,676 --> 00:23:34,346 A BIG CHANGE, THE SENATE, AND 680 00:23:34,346 --> 00:23:36,047 WITH THE SENATE USUALLY GOES THE 681 00:23:36,047 --> 00:23:36,314 ASSEMBLY. 682 00:23:36,314 --> 00:23:38,850 THERE IS AT LEAST FIVE SEATS ARE 683 00:23:38,850 --> 00:23:42,654 GOING TO BE REPRESENTED BY 684 00:23:42,654 --> 00:23:50,662 DIFFERENT PEOPLE COME 2022, AND 685 00:23:50,662 --> 00:23:53,298 I'M NOT SURE THERE'S A BIG 686 00:23:53,298 --> 00:23:54,032 TURNOVER SINCE I COVERED 687 00:23:54,032 --> 00:23:56,168 POLITICS IN 2007, THAT WAS THE 688 00:23:56,168 --> 00:23:58,403 BIGGEST TURNOVER PRIOR TO THIS 689 00:23:58,403 --> 00:23:58,970 ONE THAT I CAN REMEMBER. 690 00:23:58,970 --> 00:24:00,238 >> YOU JUST READ MY SCRIPT. 691 00:24:00,238 --> 00:24:01,973 I WAS GOING TO ASK ABOUT THAT 692 00:24:01,973 --> 00:24:03,742 BUT I FEEL WE'RE RUNNING OUT OF 693 00:24:03,742 --> 00:24:03,942 TIME. 694 00:24:03,942 --> 00:24:06,445 YOU HAD A GREAT STORY THIS WEEK 695 00:24:06,445 --> 00:24:10,382 ABOUT ONE OF THOSE BATTLES, FOR 696 00:24:10,382 --> 00:24:13,151 SENATOR WEINBERG'S SEAT IN THE 697 00:24:13,151 --> 00:24:13,418 ASSEMBLY. 698 00:24:13,418 --> 00:24:18,623 I KNOW WE'VE GOT OTHER ASSEMBLY 699 00:24:18,623 --> 00:24:18,857 MEMBERS. 700 00:24:18,857 --> 00:24:19,524 WE'LL HAVE A SHAKEUP THIS YEAR, 701 00:24:19,524 --> 00:24:20,125 RIGHT, REAL QUICKLY? 702 00:24:20,125 --> 00:24:22,794 >> BIG TIME. 703 00:24:22,794 --> 00:24:24,563 CARDINALLI PRIOR TO HIS DEATH 704 00:24:24,563 --> 00:24:27,432 WOULD BE CHALLENGED BY 705 00:24:27,432 --> 00:24:29,234 ASSEMBLYWOMAN AND BROWN IN SOUTH 706 00:24:29,234 --> 00:24:30,368 JERSEY NOT RUNNING FOR 707 00:24:30,368 --> 00:24:31,870 RE-ELECTION AND A COUPLE OTHER 708 00:24:31,870 --> 00:24:37,709 SENATORS WHO WON'T BE RETURNING. 709 00:24:37,709 --> 00:24:40,312 IT'S A BIG SHAKEUP, DIFFERENT 710 00:24:40,312 --> 00:24:41,580 MAJORITY LEADER AND MINORITY 711 00:24:41,580 --> 00:24:42,380 LEADER. 712 00:24:42,380 --> 00:24:45,450 TOM CAIN IS LEAVING PROBABLY TO 713 00:24:45,450 --> 00:24:49,254 RUN FOR CONGRESS AGAIN. 714 00:24:49,254 --> 00:24:50,856 THAT'S NOT JUST TURNOVER ON 715 00:24:50,856 --> 00:24:52,157 PEOPLE BUT TURNOVER IN 716 00:24:52,157 --> 00:24:52,457 LEADERSHIP. 717 00:24:52,457 --> 00:24:54,259 >> WELL THIS IS GOING TO GIVE US 718 00:24:54,259 --> 00:24:56,461 A LOT TO WRITE ABOUT AND TALK 719 00:24:56,461 --> 00:24:59,164 ABOUT ON FUTURE EPISODES FOR THE 720 00:24:59,164 --> 00:25:00,599 COMING YEAR, THIS ELECTION. 721 00:25:00,599 --> 00:25:03,134 I'M SORRY, THAT'S ALL WE HAVE 722 00:25:03,134 --> 00:25:04,736 FOR "ROUNDTABLE" TODAY. 723 00:25:04,736 --> 00:25:08,273 I WANT TO THANK OUR GUESTS, 724 00:25:08,273 --> 00:25:10,275 ASSEMBLYWOMAN MARINE AND OUR 725 00:25:10,275 --> 00:25:13,645 GREAT PANEL OF JOURNALISTS, MATT 726 00:25:13,645 --> 00:25:16,481 FRIEDMAN, STACEY SHERMAN AND 727 00:25:16,481 --> 00:25:25,857 JOHN WRIGHTMEYER. 728 00:25:25,857 --> 00:25:26,424 BE SURE TO SUBSCRIBE TO THE 729 00:25:26,424 --> 00:25:27,058 YOUTUBE CHANNEL TO GET EXCLUSIVE 730 00:25:27,058 --> 00:25:27,659 CONTENT, INCLUDING MORE "CHAT 731 00:25:27,659 --> 00:25:28,460 BOX," NJ BUSINESS BEAT AND NJ 732 00:25:28,460 --> 00:25:30,529 SPOTLIGHT NEWS. 733 00:25:30,529 --> 00:25:32,864 DAVID CRUZ WILL BE BACK HERE 734 00:25:32,864 --> 00:25:35,000 NEXT WEEK. 735 00:25:35,000 --> 00:25:35,734 I'M COLLEEN O'DAY. 736 00:25:35,734 --> 00:25:37,102 THANKS FOR WATCHING. 737 00:25:37,102 --> 00:25:38,103 >> Announcer: MAJOR FUNDING FOR 738 00:25:38,103 --> 00:25:39,504 "REPORTERS ROUNDTABLE" WITH 739 00:25:39,504 --> 00:25:40,205 DAVID CRUZ IS PROVIDED BY NEW 740 00:25:40,205 --> 00:25:41,773 JERSEY REALTORS, THE VOICE FOR 741 00:25:41,773 --> 00:25:42,307 REAL ESTATE IN NEW JERSEY. 742 00:25:42,307 --> 00:25:44,376 MORE INFORMATION IS ONLINE AT 743 00:25:44,376 --> 00:25:45,944 NJREALTOR.COM. 744 00:25:45,944 --> 00:25:48,013 RWJBARNABAS HEALTH, LET'S BE 745 00:25:48,013 --> 00:25:50,215 HEALTHY TOGETHER. 746 00:25:50,215 --> 00:25:51,616 AND BY NJM INSURANCE GROUP, 747 00:25:51,616 --> 00:25:54,152 SERVING THE INSURANCE NEEDS OF 748 00:25:54,152 --> 00:25:54,686 NEW JERSEY RESIDENTS AND 749 00:25:54,686 --> 00:25:55,287 BUSINESSES FOR MORE THAN 100 750 00:25:55,287 --> 00:25:58,323 YEARS. 751 00:25:58,323 --> 00:26:01,426 PROMOTIONAL SUPPORT IS PROVIDED 752 00:26:01,426 --> 00:26:03,595 BY "NEW JERSEY BUSINESS 753 00:26:03,595 --> 00:26:05,163 MAGAZINE," THE MAGAZINE OF THE 754 00:26:05,163 --> 00:26:05,797 NEW JERSEY BUSINESS AND INDUSTRY 755 00:26:05,797 --> 00:26:06,498 ASSOCIATION, REPORTING TO 756 00:26:06,498 --> 00:26:07,766 EXECUTIVE AND LEGISLATIVE 757 00:26:07,766 --> 00:26:09,668 LEADERS IN ALL 21 COUNTIES OF 758 00:26:09,668 --> 00:26:16,074 THE GARDEN STATE SINCE 1954.