Assemblyman Tony Jordan (R,C,I-Jackson) commended Governor Cuomo for vetoing legislation that would have granted school districts the authority to borrow money without voter consent to pay for pension costs (A.6309/S.4067-A). “I am pleased that the governor vetoed this legislation. I debated and voted against this bill because it was an ill-conceived attempt to circumvent the tax cap,” said Jordan.
Although pension costs are a significant expense for school districts, borrowing to cover these costs is not sustainable and will not reduce the tax burden for local taxpayers. “We need comprehensive mandate relief, including pension reform. This proposal was a gimmick that would have burdened future budgets with debt payments and failed to address the root of the problem. While I applaud the Governor for vetoing this legislation, I also will continue working with him to address the mandates that increase costs for school districts and local governments across the State.”