Marcus Rayner • The Home News Tribune / To the editor
As Chris Christie prepares to take office on Jan.19, he might want to consider adopting some of the innovative proposals California Gov. Arnold Schwarzenegger has offered to stimulate his state’s economy.
As Chris Christie prepares to take office on Jan.19, he might want to consider adopting some of the innovative proposals California Gov. Arnold Schwarzenegger has offered to stimulate his state’s economy.
With unemployment rates surpassing double digits in both states, attracting new businesses and retaining current businesses are critical for recovery. Recognizing that California’s litigation laws lead to large settlements with little value to taxpayers or consumers, Gov. Schwarzenegger outlined a tort reform proposal intended to spur job growth. Among these proposals is a cap on punitive damage awards. In New Jersey, they would be especially welcome among our remaining businesses, especially in the pharmaceutical industry where our state once reigned supreme.
Christie, like Schwarzenegger, will be a Republican governor of a state with a Democratic-controlled Legislature. Leaders of both parties have pledged their willingness to cooperate in order to help New Jersey recover from its economic crisis.
Tort reform may prove to be a significant job creation tool in New Jersey as well as California.
