Says NJLRA’s proposals for reform will be a cornerstone in efforts to reposition New Jersey’s economy.
TRENTON, N.J. – Senator Ray Lesniak (D-Union), Chair of the Senate Economic Growth Committee and sponsor of the Appeal Bond Cap legislation, S-480, addressed members of the New Jersey Lawsuit Reform Alliance’s Fall Membership Luncheon on Tuesday in West Trenton.
“Numerous economic reports have predicted New Jersey’s economy would rebound more slowly than our neighboring states and most of the rest of the nation. I’m here to say these predictions can be wrong, that we can boost our economy and help create good paying jobs,” said the Senator.
“The proposals of the New Jersey Lawsuit Reform Alliance will be a cornerstone of our effort to reposition New Jersey’s economy for long term growth. I look forward to working with you in the months ahead to achieve this goal.
NJLRA executive director Marcus Rayner praised the senator, calling Lesniak a “true champion for tort reform” who understands that a stronger New Jersey will be driven by economic growth, not frivolous lawsuits.
The Appeal Bond Cap legislation, S-480, would cap the amount of money needed to bond for an appeal at $50 million or 100 percent of a judgment, whichever is less.