New Jersey lawmakers passed a $28.4 billion fiscal year 2011 state budget early Tuesday that slashes municipal and school aid and suspends property tax rebates for this year.

The budget is scheduled to be signed by Gov. Chris Christie Tuesday afternoon, just hours before the state’s midnight June 30 constitutional deadline to have a budget in place.

Christie praised the budget, a 9 percent reduction from the current year, for closing an $11 billion budget gap without raising taxes. But New Jersey’s Democratic-controlled legislature was critical of the many cuts, which include an $820 million reduction in school aid, a $407 million reduction in municipal aid and the elimination of $848 million in direct property tax relief.

While this budget probably doesn’t go far enough to reduce the out of control spending in the State of New Jersey, it  is a major step in the right direction.  In a climate where no one really got all that they wanted, for the first time in a long time, legislators in Trenton actually did their job.  Instead of sitting around thinking of ways to spend other people’s money, they went through the bloated budget and changed the trajectory of spending for the first time.  And they should be applauded Democrat and Republican alike.

At least some of them…

“This is a budget that spares no one but the wealthy and does nothing to cure New Jersey’s addiction to property taxes,” Assembly Budget Committee Chairman Louis D. Greenwald, D-Camden, said, adding that relief would be eliminated in 2010 for:

• 468,000 senior homeowners who received $1,295 each in property tax relief;

• 36,000 senior homeowners who received $763 in 2009;

• 278,000 working class homeowners who received $892 in 2009;

• 230,000 working class homeowners who received $670 in 2009; and

• 108,000 senior tenants who received about $700.

The budget also reduces funding for High-Tech Business Tax Credits and eliminates the state’s Film Production Tax Credit.

In a moment of sanity in Trenton, Mr Greenwald (D-Camden) reminds us all that gross fiscal irresponsibility is just a blink of an eye away at any moment waiting in the wings.  For the Assembly Budget committee chairman is angry that someone taped his cookie jar closed.  You see Mr Chairman, the cuts you refer to are not cuts at all.  They represent the elimination of several of your favorite wealth re-distribution policies.  And if you and those that think like you would get on board with the Governor’s property tax cap ballot initiative, we would take another major step forward in curing New Jersey’s fiscal mess.

The wealthy are not the problem in this state.  Frankly, they pay most of the bills for your fiscal fecklessness already.  YOU are the problem Chairman Greenwald.  And one of the best ways you could personally help the state of New Jersey is to step down.  Immediately.  And let the adults take over.

 
Read more: Christie set to sign N.J. budget that’s 9% lower than last year – Philadelphia Business Journal