The full Assembly voted 46-26-0 on Thursday giving the COVID-19 Emergency Bond Act (A-4175) final legislative approval and sending it to the Governor’s desk. Bill sponsor Assemblyman John McKeon (D-Essex, Morris) issued the following statement:
“The current public health crisis has thrust us into a new reality that is nothing short of profound and unprecedented. Especially when it comes to the toll it is taking on our state revenues and budget.
“The COVID-19 Emergency Bond Act, approved in the Legislature today, puts us a crucial step closer to crafting a fair and responsible path forward for all New Jersey residents come September.
“It’s been said before and I’ll say it again: we are in no position to cut or tax our way out the budget deficit we face, we must have the ability to borrow.
“This Act will enable the State to leverage funds quickly, so we can help everyday New Jerseyans during this once-in-a-lifetime pandemic.”