New Jersey Gov. Chris Christie said his proposals for fixing New Jersey’s underfunded pension system will come by the end of summer, but the governor said the problem can no longer be ignored.
The Democrat-controlled New Jersey Legislature voted Thursday to raise taxes on companies and high-earning individuals while fully funding pension funds for public employees, but no one doubts that Gov. Chris Christie will veto the measure.
Pension funds, mutual funds and other big institutions all want a piece of the rehabilitated GM. That means the three dozen banks divvying up the new shares may not have much left for individual investors.