Corzine’s Labor Deal Will Hit Future Taxpayers Despite Savings Of At Least $300M

Gov. Jon Corzine’s tentative labor deal with state workers frees up millions of dollars in the short-term, but taxpayers will still wind up paying in the future. The proposed deal saves at least $300 million for the budget year that begins July 1, helping the governor in his re-election year sign off on a spending plan that is $4 billion smaller than the one approved last year. But by pledging not to lay off any state workers and delaying a July 1 wage increase until January 2011, two terms of the tentative agreement Corzine and union leaders are asking state workers to approve this month, those employee costs are largely pushed forward. Read full article from Star Ledger here.

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