Special Session Results

Here is the scorecard for today's special "economic summitt" of the state legislature.

The Assembly passes a circuit breaker and higher income earners tax increase combo bill. This measure does not match the Senate school tax cap, so both are one house wonders, unless a compromise is worked out. 

No school tax cap passed by the Assembly means any home heating assistance measure is being held hostage.

$50 million in member item "pork" money is being swept away from lawmakers.

The Senate talk is about a 6% reduction across the board in state spending; legislative programs, certain aid to municipalities, excluding education, HCRA.

Paterson's mistake - proposing $1 billion in cuts and saying he would accept $600 million, which was the first signal to the legislature he would take less than that, so they may hit $400-500 million. He should have left it at $1 billion period!