Pallone Unveils Legislation to Protect Student Loan Borrowers

FOR IMMEDIATE RELEASE
October 12, 2016

NEW BRUNSWICK, NJ– Today, Congressman Frank Pallone, Jr. (NJ-06) announced his introduction of the Student Borrower Higher Education Lending Protection (“HELP”) Act, new legislation to protect student borrowers and co-signers from egregious debt collection practices. The legislation will address lending practices by the New Jersey Higher Education Student Assistance Authority (HESAA), including its refusal to allow loan forgiveness to a mother whose son died and a borrower who battled cancer and became unemployed after graduating from college. Congressman Pallone discussed the legislation with Senate President Stephen Sweeney, Senator Sandra Cunningham and students at Middlesex County College in Edison, NJ. Sweeney and Cunningham are working in Trenton to advance legislation that would also protect New Jersey students from abusive lending practices and make college more affordable and accessible.

The bill amends the Truth in Lending Act with three main provisions for private lenders, including HESSA. The provisions include:

• Requiring total loan forgiveness for any student borrower who is subsequently determined to have a permanent disability or any family member who is a cosigner of a loan taken out by a student borrower who dies.
• Deferment of loan payments (without any financial penalty) for borrowers with a temporary disability.
• Requiring private lenders to disclose the default rates in their student loan portfolio on loan documents so borrowers are aware before signing any documents of the financial risk of entering into a contract with that lender.

“To succeed in the 21st century economy young Americans needs to have access to higher education,” said Pallone. “However, too many New Jersey families face daunting student loan bills and financial institutions unwilling to provide flexibility for those facing hardships. The least we can do is protect those families that are put in extraordinarily difficult situations and protect them from harassment from debt collectors.”

“College affordability is a shared priority that Congressman Pallone is fighting for in Washington as we fight for it in Trenton,” said Senate President Steve Sweeney, who recently introduced a comprehensive, nine-part package of bills to help make higher education more affordable and more accessible. “Helping to reduce and control student debt is an important part of the effort. Students should be treated fairly when they take out loans and they should be treated fairly in managing their debt and making payments. I applaud Congressman Pallone for advocacy for the HELP Act. It provides consumer protections for college students and their families so they can afford a degree and can manage their loans. We can’t open the door of college opportunity for students only to slam it shut with the burden of debt. We must keep higher education available and affordable for all students.”

In August, Congressman Pallone solicited opinions from students at Rutgers University on their experiences with student loans and what they would do to assist New Jersey families facing $31 billion in student loan debt. Congressman Pallone is already the cosponsor of HR 1434, the Bank on Students Emergency Loan Refinancing Act, which would allow undergraduate borrowers repaying private or public student loans to refinance those loans at an interest rate of 3.86 percent.

Salute to Patriotism Gala Celebrates 21st Anniversary of the New Jersey Vietnam Veterans’ Memorial Foundation

FOR IMMEDIATE RELEASE



The Gala on October 27 will honor New Jersey Senate President Senator Steve Sweeney for his support of Veterans

Holmdel, NJ (September 15, 2016) – This year’s New Jersey Vietnam Veterans’ Memorial Foundation Salute to Patriotism Gala will celebrate the 21st anniversary of the Memorial and honor Senator Steve Sweeney for his support of veterans and active duty military. The gala will be held Thursday, October 27, with a reception at 6 p.m. followed by dinner at 7 p.m., at the Eagle Oaks Golf and Country Club, 20 Shore Oaks Drive, Farmingdale, NJ. Since 1995, the New Jersey Vietnam Veterans’ Memorial has provided a place to honor those who have served and continue to serve our country. The Memorial is a place “To Remember, To Heal, To Honor” through ceremonies and outreach programs. The adjacent Vietnam Era Museum and Educational Center is the only museum of its kind in America.

Senator Steve Sweeney, the President of the New Jersey Senate since 2010, has represented the Third Legislative District since 2002, and has been a leader on important state issues, including fighting to improve the lives of our state’s Veterans. As Senate President, he has dedicated himself to making sure New Jersey Veterans are treated with dignity and respect. The Senator oversaw the passage and enactment of numerous pieces of legislation benefitting Veterans and their families including:

• Veteran to Veteran Peer Support Program telephone hotline
• Military Dependents Scholarship Fund Act
• Veterans Haven Council to protect Veterans against the danger of homelessness
• Tax and incentive programs for Veterans and Veteran-owned businesses

Senator Sweeney has long believed that Veterans are among the most dedicated and hardworking individuals, and fought for the Helmets to Hardhats Program that assists Veterans looking for work in the construction industry, particularly through a partnership with the Turnpike Authority. To make sure Veterans receive the public recognition for their sacrifice that they deserve, Senator Sweeney successfully called for legislation and resolutions to rename several roadways in honor of our state’s military men and women, including designating a portion of Route 47 in Glassboro as “South Jersey Vietnam Veterans Highway.”

While serving as Gloucester County Freeholder Director, Senator Sweeney committed himself to making sure Veterans had a strong advocate. Some of his most significant accomplishments include creating a full-time Veterans Affairs Office, opening a health clinic for Veterans, building the Gloucester County Veterans Memorial Cemetery and beginning the acclaimed Wall of Heroes Memorial to honor those men and women killed or missing in action in service to the United States Military.


The Gala will feature an open bar, hors d’oeuvres, dinner, silent auction and live music. Tickets are $200 for individuals and $400 for couples. Dress is business attire. Moderator for the evening is Jack Ford, noted legal analyst.

Michael Warner is the Gala Chair, and Gala Vice Chairs are Senator Dawn Addiego, Senator James Beach, Bobby Briant, Jr., Duane Sarmiento, and Sheriff Whip Wilson. The New Jersey Vietnam Veterans’ Memorial Foundation Executive Director is Bill Linderman and the Board of Trustees are Chairman Clark W. Martin, Bobby Briant, Jr., Roy D. Budd, Harry Chowansky III, Francis P. Crotty, James S. Cusick, Beverly Fedorko-Ott, Thomas P. Ford, Jess Le Vine, Robert W. Looby, Frank A. Messineo, Gordon S. Pingicer, W. Peter Ragan, Sr., John C. Ricker, Harry Sassaman, Jack Tully, Michael Warner, Gilbert “Whip” Wilson, and Herb Worthington.

Sponsorship opportunities are still available. For more information or to purchase tickets, call 732-335-0033 or visit www.njvvmf.org.

NJ Watchdog: Billions in loans may save pensions or sink New Jersey

The U.S. government should rescue troubled state pension plans with billions of dollars in long-term, low-interest loans, New Jersey Senate President Steve Sweeney proposed on Wednesday.

The trillion-dollar question is whether it would save public pensions or sink them deeper in debt. That’s the underfunding public retirement plans collectively face in the 50 states, according to a Pew Foundation study.

“A federal plan to restructure the pension debts would cut annual payments and save the taxpayers money,” said Sen. Sweeney, D-West Deptford.

Sweeney said New Jersey now needs to pay $6 billion a year for the next 30 years to erase its $51 billion in unfunded pension liabilities. He calculated the annual payment would be cut in half to $3 billion with a $50 billion loan from the Federal Reserve at an interest rate of 1-percent a year.

But the Garden State’s total public pension system shortfall is actually $170 billion -- more than three times the figure cited by Sweeney -- according to New Jersey Watchdog’s analysis of state Treasury records. It includes:

• $82.7 billion in unfunded liability for the pension plans of state workers
• A $20.7 billion shortfall for the pensions of local government employees
• $53 billion in unfunded health benefits for state retirees, and
• $13.8 billion to cover the post-employment benefits local government workers

Paying that full debt could cost roughly $10 billion per annum, even at 1-percent interest over three decades. The yearly payments would equal one-third of the entire state budget, currently $33.8 billion.

“Bad idea!” opined Bob Williams, president of State Budget Solutions, a non-profit watchdog. “How does Sen. Sweeney expect the feds to fund a low-interest loan program? Congress has enough problems trying to get the loans they need to pass their unsustainable federal budgets.”

The full story is online at http://watchdog.org/231882/pensions-loans-new-jersey/.

Pallone, Sweeney, Vitale Highlight Critical Need to Extend CHIP Funding at Children’s Specialized Hospital

NEW BRUNSWICK, NJ – Today, Congressman Frank Pallone, Jr. (D-NJ), Ranking Member of the House Energy and Commerce Committee, along with Senate President Steve Sweeney and Senator Joseph Vitale, visited PSE&G Children’s Specialized Hospital in New Brunswick to discuss the importance of extending funding for the for the Children’s Health Insurance Program (CHIP). The officials held a roundtable discussion with hospital staff and families currently benefitting from CHIP to highlight the critical need to continue funding this essential program.

Frank Pallone Jr.

Congressman Pallone was one of the original authors of the 1997 CHIP program, which has traditionally garnered strong bipartisan support at the federal and state levels, and has grown to provide health coverage to more than 8 million pregnant women and children, including over 185,000 in New Jersey. New Jersey Family Care is also funded through CHIP and serves over 800,000 children throughout the state. If Congress does not act, however, funding for the program is set to expire in September 2015.

“CHIP is responsible for providing millions of children across the United States with access to the high-quality and affordable healthcare that they need in order to grow up to be healthy adults,” said Congressman Pallone. “But without Congressional action, funding for CHIP will expire next fall, which will jeopardize the health coverage of millions of children whose families cannot afford to purchase coverage for them on their own. Congress must act now to continue funding for this essential program, so that no child loses coverage.”

“No child should be denied the ability to see a doctor or get the medical care they need and no pregnant woman should go without health care,” said Senator Sweeney. “The CHIP program has been one of the most important and successful health care services in the country and in New Jersey. In caring for low-income families. Federal funding should be renewed and state support should be maintained.”

“Pregnant women now enrolled in CHIP could lose coverage and pre-natal care,” said Senator Vitale. “They are from low-income families and they don’t qualify for Medicaid so they could be left without health care at a time when they need it most. When children have health insurance, they are sick less frequently and for a shorter duration and are more likely to attend and perform well in school.”

Last week, Congressman Pallone introduced legislation, supported by every Democrat on the House Energy and Commerce Committee, which would extend funding for CHIP for four years, through 2019, to protect coverage for millions of children and families, and strengthen the program by providing states with secure funding and new tools to improve enrollment and retention.

The bill, the CHIP Extension and Improvement Act of 2015, makes a number of program improvements to reduce bureaucracy and increase state flexibility. The legislation maintains the 23 percent “bump” increasing states’ matching rates and the maintenance-of-effort provision so that states do not change Medicaid and CHIP eligibility standards. Among other improvements, the legislation provides states with a permanent option to use “Express Lane Eligibility,” which reduces administrative burdens for both states and beneficiaries.

A Senate companion bill was also introduced last week by Senators Sherrod Brown (D-OH), Debbie Stabenow (D-MI), Ron Wyden (D-OR), and Bob Casey (D-PA) and was supported by every Democrat in the Senate. The bill, entitled the Protecting & Retaining Our Children’s Health Insurance Program Act of 2015 (PRO-CHIP), would also extend CHIP funding through 2019.

NJ Senate President Steve Sweeney Rejects Maddow's Alternate Bridge Scandal Theory

Eric Lach – TalkingPointsMemo
January 10, 2014

New Jersey Senate President Stephen Sweeney (D) on Friday dismissed an alternate theory that was floated by MSNBC host Rachel Maddow about the George Washington Bridge scandal. 

"That's a real conspiracy thing, right?" Sweeney said, after TPM described to him the gist of Maddow's argument. 

On her Thursday night program, Maddow suggested that the target of the lane closures, which led to a massive, multi-day traffic jam in the town of Fort Lee, N.J., was not the town's Democratic mayor, Mark Sokolich. In recent months, many Democrats have speculated that Sokolich was retaliated against because he did not endorse Gov. Chris Christie's (R) re-election bid last year. 

Instead, Maddow suggested, the lane closures were prompted by Christie's bitter fight with Senate Democrats over re-appointments and nominees to the state Supreme Court. The cable news host pointed out that Senate Majority Leader Loretta Weinberg's (D) district includes Fort Lee. She also noted that a key moment in the Supreme Court fight happened the day before one of Christie's aides sent a now-infamous email that read: "Time for traffic problems in Fort Lee." 

But Sweeney, who said he did not see Maddow's program, rejected the theory.
"That can't be part of that, that can't be," he told TPM, referring to the Supreme Court fight, later adding: "Whoever said that has a very creative imagination." 

Sweeney suggested that now that federal prosecutors are looking into the bridge incident, the truth about the lane closures will eventually come out. 

"They're going to get to the bottom of it," he said.

See the video of Maddow's alternate theory here

Sweeney Endorses Buono For Governor

New Jersey Senate President Stephen Sweeney  issued a statement last night endorsing  Barbara Buono's campaign to become the next Governor of  NJ:

"Barbara Buono is the clear choice to move New Jersey forward. Whether it is improving our schools, protecting our seniors, fighting for women's healthcare, ensuring civil rights for all New Jerseyans, or providing economic relief that our workforce and middle-class desperately needs, Barbara Buono reflects true Democratic values and believes in the middle-class. These values unify our party, solidify our resolve and are the reasons all Democrats must stand with Barbara."

Passaic County Democratic Chairman Currie To Lead State Party.

In a joint statement issued today by Senate President Stephen Sweeney and Democratic gubernatorial nominee Barbara Buono announced that Passaic County Democratic Party chairman, John Currie will be the new state party chairman.

The choice of Currie was a compromise between Buono, who preferred Assembly Jason O'Donnell for the position and State Senator Raymond Lesniak who was backed by Sweeney and South Jersey party boss George Norcross.

"Today, we talked and determined that the issues that bind us together are far stronger than any disagreements. The Democratic Party has long been a champion for working and middle class families and this year's election is far too important to allow party in-fighting to affect our ability to help them. Our focus must be on defeating Governor Christie and winning elections up and down the ticket.

"In the interest of party unity, Assemblyman Jason O'Donnell and Senator Ray Lesniak have agreed to rescind their candidacies for chairman of the New Jersey Democratic State Committee (NJDSC). Passaic County Chairman John Currie has graciously accepted the position and will be the next leader of the NJDSC.

"By removing themselves from contention for State Chair, Assemblyman O'Donnell and Senator Lesniak continue to exhibit the qualities that make them tremendous leaders within the Democratic Party. They understand that compromise is a necessary and important part of a vibrant democracy and both will work hard to ensure that Democrats win across the state in November."

Two More Top Democrats Refuse To Take On Christie

PolitickerNJ is reporting this morning that both NJ Senate President Steve Sweeney and U.S. Congressman Bill Pascrell (D-9)  have passed on the idea of taking on Governor Christie this fall.

Their decision not to seek the Democratic nomination to challenge Governor Christie leaves State Senator Barbara Buono, as the only declared and likely challenger to him.

It's too bad that none of these supposedly "top democratic" guys, have the balls to take on Christie the way Senator Buono has.

As Monmouth County Chairman Vin Gopal has stated before, Governor Christie is very popular right now but Democrats in NJ have a 700,000 advantage in voter registration with the election 10 months away. A lot will change in that time and Senator Buono will provide a great contrast as a strong progressive woman fighting for New Jersey's middle-class.

Christie's State of the State Address: A Bunch of Misleading Statistics

This Commentary appears online at the New Jersey Newsroom


By Senate President Steve Sweeney

Governor Christie’s State-of-the-State was long on rhetoric, but short on ideas. It reminded me of that old Wendy’s commercial: “Where’s The Beef?” The governor had a unique opportunity to map out a version for New Jersey moving forward. He failed badly to do so, and as a result, people in New Jersey are no more certain now than they were before of what the future holds.

The governor spent most of his speech discussing the heroic efforts and actions of our first responders and everyday residents during Sandy. Naturally, we all share his pride in our fellow New Jerseyans. But what they need is more than a pat on the back: they need specific answers on how they can move forward with their lives. People in Sayreville need to know what is going to happen to their homes, which were completely destroyed, yet they still have to pay their mortgage and property taxes.

Folks in Moonachie need to know what is going to happen to the municipal infrastructure in town, which was washed away by flood waters.

Most importantly, what the governor failed to do was present the true state of the state in New Jersey. He gave a bunch of misleading statistics meant to show everyone that the sun is shining in our state, when it is actually raining. The reality of New Jersey is that we face serious problems that this governor has ignored and will continue to ignore. Middle class families, women and the working poor have gotten the short end of the stick under this administration. The governor’s speech gave no indication this is going to change anytime soon.

The governor not-so-conveniently left out several facts in his speech that you are not likely to hear him discuss anytime soon. The state’s unemployment rate is 9.6%, nearly two points above the national average and among the highest it has been in 35 years. But a better indicator of how poorly this governor is doing on the economy is that our neighboring states are all doing substantially better than New Jersey, and we have the fourth highest unemployment rate in the country.

You won’t be hearing the governor talk about the fact that the middle class in New Jersey has shrunk by 3%, or that the wealth gap in New Jersey between the rich and the poor is the largest it has been since the Great Depression. The rate of growth in personal income in New Jersey has dropped, and we now rank 45th in the nation in that area. Our poverty rate has increased to 11.4% of the population, a figure that has gone up every year under this governor.

You probably also won’t hear the governor talk about the 7% of all New Jersey homeowners who are currently in the foreclosure process, a figure representing more than 100,000 people. After the federal government awarded the state $300 million to help keep these people in their homes, the administration essentially sat on the money, using only 10% of the funds to help just 750 homeowners. While they sat on those funds, people in New Jersey lost their homes.

It also bears noting that Governor Christie ran for office on a platform of improving New Jersey’s economy. In fact, he specifically attacked then-Governor Corzine by saying, “I don't know how when unemployment continues to go up that you can say that's a success.” Yet, as New Jersey’s unemployment rate continued to skyrocket during 2012, the governor acted as if all was well in the Garden State, using the same rhetoric he attacked his opponent for.

What is perhaps most disturbing though is that after three years in office, this governor has failed to produce a single comprehensive plan to create jobs and grow the economy in New Jersey. When we presented him with a package of over 30 bipartisan bills, he vetoed nearly all of them. Instead of presenting his own plan, he simply ignored the issue, and has continued to ignore it to this day.

The bottom line is that the governor has willfully ignored working people in this state for three years: their problems are not, and have never been, his problems. His State-of-the-State address did nothing to change that. The people of New Jersey deserve a leader who is willing to look behind the numbers, like the unemployment rate, and recognize that they are not just numbers – they are people.