New Jersey Gov. Chris Christie has adopted hundreds of millions in spending cuts that were proposed by his Democratic predecessor. Christie’s midyear budget cuts include saving $475 million in school aid by requiring districts to use their surpluses in place of state payouts.On his way out the door, Gov. Jon Corzine had proposed paring school aid by $300 million to reconcile the budget.
Christie’s plan goes further because it pares all district surpluses greater than 2 percent, while Corzine would have allowed districts to keep 25 percent of the excess.
Christie also achieved the savings instantly by signing an executive order. Corzine’s proposal required legislative action, but no bill was put forth before his term ended on Jan. 19.
{North Jersey/Noam Amdurski-Matzav.com Newscenter}
