Christie taps Bagger and Grady to head budget team

Former State Sen. Richard Bagger and former Kean aide Robert Grady will chair Gov.-elect Christopher Christie's transition task force on budget and taxes.

Bagger, a top Pfizer executive, chaired the Assembly Appropriations Committee for four years. Grady, a millionaire venture capitalist who retired in June from his post as Chairman of Carlyle Venture Partners, served as Communications Director under Kean, and as Executive Associate Director of the Office of Management and Budget under Bush. He also served as Chief of Staff to U.S. Rep. Millicent Fenwick. He also spent ten years as a professor at the Stanford University Business School.

The Task Force Co-Chairmen will help develop recommendations to address the fiscal deficit that state experts have estimated at over $8 billion for the coming fiscal year 2011, and to respond to the shortfall in projected state revenues in the current fiscal year 2010, according to a statement released by Christie's transition office.

"Addressing the problems facing New Jersey's economy is my highest priority, " Christie said, "and with these two experienced budget and fiscal experts helping me spearhead our efforts we are able to get to work right away."

Christie taps Bagger and Grady to head budget team