Senator Joe Pennacchio, the senior Republican Member of the Senate Labor Committee, issued the following statement regarding the release of the report by the New Jersey Unemployment Insurance Task Force.
“I am pleased that the governor has accepted the report today by the task force. The members of the task force, especially the co-chairs Melanie Willoughby and Ed Fedorko and my colleague in the Senate, Fred Madden and the staff at the Department of Labor did an out stand job preparing this comprehensive report. They worked for several weeks last fall in preparing a thorough report that explored the cause of the fund’s imbalance and the reforms necessary to return the fund to fiscal health.
“What most disturbs me is that only 25 years ago, when the Unemployment Insurance Fund was facing many of the same problems, a similar report was issued that contained many of the same fixes. When the Legislature implements the much needed reforms, I believe it would be helpful if the state took actions to ensure that the reforms are permanently enacted rather than easily changed during flush economic times.”