McHose: Dems Need to Explain Latest Studies on Dismal Business Forecast, Effects of Corruption that Cost Taxpayers $1 Billion Annually

Assemblywoman Alison Littell McHose said a study released today, estimating rampant political corruption in New Jersey costs taxpayers $1 billion annually, along with the release of another dismal business forecast, should set off alarms with residents that Governor Jon Corzine and the Democrat leadership's lack of sound fiscal policy and watered-down ethics “reforms” are to blame for this news.

“Corruption impacts all taxpayers and is literally eating away at the very fabric of our economy. The ripple-down effect is evident everywhere,” said McHose. “Just look at the state’s latest business forecast – once again it paints an extremely dismal picture.”

According to an article in today’s Trentonian, a study produced by the Prudential Business Ethics Center at Rutgers University, revealed that political corruption in New Jersey is tantamount to a “hidden tax” costing taxpayers $1 billion each year. Also today, a New Jersey Business and Industry Association (NJBIA) report showed that for the second year in a row, nearly half of the state’s businesses are forecasting continued economic decline as we head into 2008. According to the report, business conditions in the Garden State have declined rapidly since 2005, falling close to recession levels.

“New Jersey taxpayers pay the highest property taxes in the nation; it's commuters are now facing certain massive toll road hikes; a possible huge gas tax increase; more debt with Governor Corzine’s undefined plan to sell roadways and now they also face a corruption tax,” said an exasperated McHose, R-Sussex, Morris and Hunterdon.

“When will this madness stop? When will the Democrats wake up and face reality? This state is on the cusp of bankruptcy,” she continued. “This isn’t political rhetoric; it's a reality that governmental corruption negatively impacts the bottom line for New Jerseytaxpayers.”

McHose noted that during the past five years, nearly 200 public officials, employees and contractors have been charged or found guilty in public corruption investigations, including the indictment this year of two State Senators and an ongoing federal probe of a third, and the arrest of two Assemblymen, one of whom has pleaded guilty.

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