Sweeney: Current Situation Makes N.J. Pension Funding Increase A No-Go
TRENTON, N.J. (CBSNewYork) -- A ballot question that would mandate more funding for the troubled New Jersey pension system may be dead on arrival.
As WCBS 880's Kelly Waldron reported, state Senate President Stephen Sweeney (D-West Deptford) made a sharp reversal of what had been one of his top priorities. He said he cannot but the pension question on the November ballot.
"Until we have resolved the Transportation Trust Fund impasse, we can't in good conscience put a constitutional guaranteed pension on the ballot," Sweeney said. "It would fail."
To replenish the state's Transportation Trust Fund, legislative leaders agreed on a package that raises the gas tax without cutting the sales tax. But Gov. Chris Christie said he would not approve such a plan.
The state Assembly approved the question on pension funding in June. But the Senate has not done so and would need to act before the constitutional deadline on Monday.
Sweeney said there is no harm in waiting a year.
"What is the issue if we need to get something resolved first?" he said.
Union leaders blasted Sweeney, saying he lied and he has betrayed every public employee in the state.