New Jersey Gov. Jon Corzine last week designated two officials to oversee the execution and implementation of $10.2 billion of funds the state will receive in the federal stimulus bill.
Chief of staff Ed McBride and state Comptroller Matt Boxer will lead a group set to monitor the incoming funds and how they are used. Along with the $10.2 billion, New Jersey taxpayers will gain $7.2 billion in tax cuts from the stimulus plan.
“Not only is it essential in this national economic crisis for New Jersey to access every dollar available in the federal stimulus package, we must also be accountable for the use of those funds,” Corzine said in a press release. “This group will ensure that the money is directed efficiently and effectively to the appropriate programs.”
Roughly $850 million of the stimulus dollars will help balance the state’s $32 billion fiscal 2009 budget and close a $3.6 billion deficit. Of the $850 million, about $600 million will be used for Medicaid programs.
