1TRENTON, NJ – Senate Budget Officer Declan O’Scanlon sent a letter to New Jersey State Treasurer Elizabeth Maher Muoio, requesting immediate updates on financial disclosures previously shared with rating agencies and the financial market. O’Scanlon asserts that Governor Murphy’s administration has concealed a budget deficit of $4 billion that could burden the next Governor and Legislature.

O’Scanlon warns that if the administration does not address the financial situation before selling $1.5 billion in new debt this month, he will file a complaint with the Securities and Exchange Commission. “After reviewing Treasury’s financial disclosures, I felt like someone at a disreputable used car lot had tried to sell me a car without telling me it was recovered from a flood,” said O’Scanlon.

In

See Full Page