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Richard F. Keevey
In many respects, New Jersey is about to face the opposite of a “perfect (fiscal) storm.” Consider: The state’s pandemic-induced economic downturn is ending and its recovery is well underway; the pandemic-induced state revenue declines were far less than projected; and help from the federal government will likely far exceed both the state’s needs and expectations.
Of course, this good bit of fiscal news comes with many significant ongoing and long-term state problems. As such, the question becomes how will the state deal with this unexpected confluence of good fiscal fortune in addressing those problems?
How A National Insurance Agency And Political Insiders Work New Jersey’s Money Game
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Acrisure, a multi-billion dollar national brokerage firm, may have secured government contracts worth millions of dollars by exploiting a loophole in New Jersey’s pay-to-play rules through the acquisition of branch offices once owned by well-connected political insiders that remain on the payroll.
Those insiders, and its company employees, subsequently pumped more than $100,000 worth of campaign donations to lawmakers dating back to 2015 and sometimes days before those lawmakers voted on awarding lucrative contracts to Acrisure.
Gothamist/WNYC found more than $3 million worth of Acrisure contracts with those county and municipal governments going back 2015, and that only includes about half of the contracts where their value has been publicly disclosed.
Garden State revenues increased in November based on recently enacted tax increases, but analysts say a sustained fiscal rebound hinges on progress confronting the COVID-19 pandemic.