U.S. Sen. Bob Menendez may be banned from Russia, but he was welcomed to a luncheon for members of the New Jersey Chamber of Commerce Cornerstone members in Iselin on April 4.
The ranking senator from New Jersey, who chairs the Senate Foreign Relations Committee, spoke candidly on a wide range of topics during a question and answer session with Cornerstone members, including relations with Russia, Middle East peace talks, Sandy recovery, the federal income tax rate, transportation funding and working with Sen. Cory Booker.
Menendez was outspoken on Russia in the wake of its annexation of Crimea. "(Russian President) Putin only understands strength, either through military or economic sanctions," he said. "The oligarchs have already felt the impact on the pockets from sanctions. When you get their pockets their hearts and minds follow."
Menendez was one of six federal lawmakers who, along with a number of advisors to President Obama, were banned from Russia in retaliation for U.S. economic sanctions imposed by the president.
U.S. economic penalties to Russia can be heightened. "There are a series of sanctions that go beyond the president's sanctions," Menendez said. Until then, U.S. must help Europeans diversify their energy sources and encourage them to take a stand against Russia, Menendez added.
"I think Russia is looking for off ramps," Menendez said. "How we get to the ultimate solution is still a challenge."
He commended President Obama's efforts for Middle East Peace, but questioned whether the timing is right. Negotiations must be contingent upon Israel being guaranteed security and Israel being recognized as a Jewish state, the senator said. "We recognized Palestine is a Palestine state," Menendez said. "They must recognize Israel is a Jewish state. You need a partner for peace and you need to be willing to negotiate."
Menendez didn't mince words when he was asked about Sandy recovery aid for Hoboken. "Considering the size of Hoboken and its importance to the economy, Hoboken did not get the resources it needs," he said. "Will it get it in the second tranche? We'll see."
In Washington, Menendez said, "I think there is bipartisan desire in the Congress to get the (top income) tax rate down to 28 percent - I'd like 25 percent." But he cautioned it won't happen his year, and it won't be easy. "The challenge will be offsetting the revenue (loss) by eliminating tax breaks," Menendez said. "(That) has to be part of the equation at the end of the day."
A higher priority in the Beltway is finding a revenue source for federal transportation projects, Menendez said. "Sen. (Barbara) Boxer has a gas tax proposal that is more like a sales tax, to deal with inflation," he said. "On the House side, there is a per-mile use (fee) proposal. At some point, we need a revenue source. We are reauthorizing the Transportation Trust Fund sometime in May or June. Last time we did it, it was for five years."
Menendez was complimentary when asked about New Jersey's new U.S. Senator. "I think Sen. Booker will do a good job," Menendez said. "He has star power, yet, like Hillary Clinton, he is not using his star power to rankle his colleagues in the Senate. I think he will do very well."
Special thank you to EisnerAmper for hosting the luncheon.