N.J. Assembly approves $150M in bailout bills

The state Assembly passed a series of bills Monday to help New Jersey recover economically.

A flurry of bills were approved, increasing tax breaks and loan guarantees for businesses, providing funds for food pantries and tax relief for seniors.

"From senior citizens to those who are on fixed incomes to those who are disabled to those who are working class to those who own businesses, there is relief in these proposals that we've undertaken today," says Assembly Leader Bonnie Watson Coleman (D).

Dissenting Republicans say the bills offer little relief to average New Jersey homeowners and are too expensive at $150 million.

"We're still spending money that belongs to taxpayers and that's how we got in trouble in the first place," says Assemblyman Jay Webber (R-26th District).

The bills still need to be voted on in the Senate.

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