N.J. Chamber Chief Lobbyist Testifies on the Budget: 'The State Surplus May be Needed to Shore Up The New Jersey Economy'

N.J. Chamber chief lobbyist Michael Egenton testified today in front of the state Senate Budget Committee. "The state budget's proposed $10 billion surplus should be used judiciously and, if the funds are used, it should be for programs that shore up New Jersey’s economy," Egenton said. "If the banking crisis worsens and financial institutions pull back on lending, which many leading economists predict could happen, our companies will need direct assistance. Some economists put the chance of recession this year at 65%, up significantly from a few weeks ago." Click here for the Michael’s testimony.