President Barack Obama wants transparency of how money from the federal stimulus package is distributed to the public, Gov. Jon Corzine told reporters this afternoon after meeting with the president and other governors in Washington, D.C. earlier today.
“The president was very clear that his expectations are for us to be particularly attendant to doing things in a transparent way, that the American people know we are doing everything we can to stabilize the economy,” said Corzine, who noted that Vice President Joe Biden will be in charge of implementing the economic recovery program.
As part of the national stimulus package, Medicaid is slated for a $15 billion infusion on Wednesday. Ninety-five percent of Americans will receive tax cuts on April 1, said the governor.
Corzine said he expects “in the neighborhood of $1 billion” from the stimulus package to stabilize the state budget, leaving another $1.5 billion in absolute cuts his administration must make to plug a revenue shortfall.
Overall, the governor said New Jersey will receive $17.5 billion from the stimulus package, or $7.5 billion in tax benefits, and the balance for Medicaid, and investments in highways, roads, bridges, mass transit, and healthcare information technology.