Murphy Taps George Helmy to Fill US Senate Spot
Last week, Governor Phil Murphy announced that he will appoint George Helmy, his former chief of staff, to the U.S. Senate after Senator Bob Menendez’s resignation takes effect this week.
Helmy’s term will be temporary. The soon-to-be-senator said he will step down from the Senate in late November when either Democratic Rep. Andy Kim or Republican Curtis Bashaw is certified the winner of this fall’s Senate election on Nov. 27; Murphy confirmed he would then appoint the winner of that contest.
The resignation of Menendez, who was convicted last month on federal bribery and conspiracy charges, took effect yesterday, August 20th. Helmy will likely be sworn in when the Senate returns to session on Sept. 9.
New Super PAC’s Emerge in 2025 Gubernatorial Race
Recent filings with the Election Law Enforcement Commission show that several super PAC’s have been created that plan to support candidates in the 2025 gubernatorial primaries and general election in New Jersey.
NJEA President and 2025 gubernatorial hopeful Sean Spiller stands to benefit from $35 million in expenditures from a super PAC with ties to his union. This amount significantly surpasses the amounts raised by any other super PACs engaging in next year's election thus far.
Another super PAC, One United New Jersey, supports Newark Mayor Ras Baraka’s bid for governor, estimating it will spend $600,000 to promote his candidacy in 2025. One United New Jersey registered with the Election Law Enforcement Commission on August 8th.
The Building Bridges Voter Project, a group closely aligned with former State Senate President Steve Sweeney, estimates it will spend about $1 million to support the South Jersey Democrat. The Building Bridges Voter Project was formed in April but filed its first financial disclosure report in mid-July. The group had raised $296,500 as of June 30, most of it — $250,000 — coming from the Carpenters Union, which has long been a huge donor to South Jersey Democrats and Sweeney.
It’s likely that most if not all 2025 gubernatorial candidates will have super PACs behind them.
A super PAC formed in 2015 to back Jersey City Mayor Steve Fulop’s aborted 2017 gubernatorial run, Coalition for Progress, still exists and has $9 million in the bank. Fulop is among the candidates running in 2025.
U.S. Rep. Mikie Sherrill is also expected to run for the Democratic gubernatorial nomination, though so far no known PAC has been created to support her.
NJ Earns Credit Upgrade from Moody’s
Last week, Moody’s Investors Service revised New Jersey’s outlook to “positive” from “stable,” reflecting “(Its) strong economic and revenue performance that will allow the state to narrow its structural gap and retain substantial budgetary reserves while maintaining full actuarial pension contributions in fiscal 2026.”
“This latest Moody’s outlook revision, from ‘stable’ to ‘positive,’ is evidence that our formula to strengthen New Jersey’s economic trajectory is working,” Governor Murphy said. “In its report, Moody’s cited an economy outpacing mid-Atlantic peers, solid economic and revenue performance, full pension payments, strong fund balances and the full funding grant agreement for the Hudson River Tunnel Project, among other areas of progress. We remain laser-focused in our multiyear efforts to restore the state’s fiscal standing.”
The agency also cited the budget surplus, which is significantly larger than the state has historically maintained.
RCSG’s Summer 2024 Reading Recommendations
Summertime is a perfect time of year to take some time off and catch up on some good reading. That’s why, for the second year in a row, the River Crossing Team has put together the following list of book recommendations that we believe our clients and friends would enjoy. ( 2/2)
Kevin McCabe
Stephanie Albanese
Doug Hritz
Rob Relovsky
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