| | | | |  | | By Matt Friedman | Good Friday morning! Does intergenerational trauma lead to cash hoarding? That, more or less, is the case Sen. Bob Menendez hopes to make to a jury during his upcoming corruption trial. The Banking Committee member had already said the nearly half million dollars of cash federal authorities found in his home came from him withdrawing money from the bank over decades because of his institutional mistrust fueled by his parents’ experience as Cuban refugees in the 1950s. They left during the Batista regime, and Menendez was born in New York City. Now, Menendez has hired a psychiatrist to testify he developed a mental disorder — the specific one is redacted — because of that, as well as because of his father’s suicide about 50 years ago, which came after Menendez “eventually decided to discontinue paying off his father’s gambling debts.” He also wants to have an accountant testify that his lifestyle was not extravagant for his income, not counting those alleged bribes. Prosecutors, who publicly disclosed this in a filing late Wednesday, are seeking to block the psychiatrist from testifying or to at least hire their own psychiatrist to evaluate the senator. We still don’t have an explanation for the gold bars also found in the senator’s home. This is the newest glimpse we’ve gotten into the senator’s defense strategy, about two weeks after a newly unredacted court document showed he may blame his wife and co-defendant Nadine for withholding information or “otherwise led him to believe that nothing unlawful was taking place.” The trial starts on May 13. TIPS? FEEDBACK? Email me at MFriedman@politico.com. QUOTE OF THE DAY: “Current law allows members of the Legislature who hold county and municipal jobs to take unlimited paid days off from those jobs in order to do their legislative ‘work.’ People with some measure of conscience, morals, and ethics would feel a tinge of embarrassment about this, but New Jersey politicians have long since moved past that. Taxpayers bear the burden of this insanity, while lawmakers ride the gravy train” — The statement of a new bill introduced by assemblymember Brian Bergen (A4290) that would require state lawmakers who have other public jobs to forgo pay from the other roles while attending to their legislative duties. HAPPY BIRTHDAY — Me! Saturday for Rachel Arndt, Gabriel Villa. Sunday for Allison Foley, Brian Hughes, Ritzy Moralez-Diaz, Bill Weightman. Missed yesterday: Bill Gormley and Awinna Martinez. (Apologies to Louis DiPaolo, whose email about Matinez’s birthday I ignored). WHERE’S MURPHY? — No public schedule
|  | WHAT TRENTON MADE | | JAPAN FLIP — NJ may pull public investments from Japanese company for cutting ties with Israeli defense contractor, by POLITICO’s Daniel Han: Democratic New Jersey Gov. Phil Murphy’s administration may divest tens of millions of dollars from a Japanese conglomerate after the company severed ties with an Israeli defense contractor over the war in Gaza, according to records obtained by POLITICO. The state’s potential divestment from the Itochu Corporation would make New Jersey one of the first publicly known states since the Oct. 7 Hamas attacks on Israel to penalize a company for cutting ties with an Israeli business. As of Dec. 31, 2023, New Jersey’s pension fund had 709,800 shares of Itochu valued at approximately $29 million, according to state Treasury spokesperson Danielle Currie. The state ‘preliminarily determined’ that the company’s decision to cut ties with an Israeli-based military contractor triggered a 2016 state law that prohibits the state pension fund from investing in companies that boycott Israel or Israeli businesses, according to a letter obtained by POLITICO through a public records request. NOPRA — “What's next for OPRA? NJ Legislature has not resurfaced 'reform' bill on public records,” by The Record’s Katie Sobko: “After being fast-tracked two months ago, a bill that would gut access to public records hasn’t returned to the calendar in either chamber of the New Jersey Legislature … Many expected the bill to turn back up, especially after state Senate President Nicholas Scutari said in March he thought that by mid-April the Legislature will take up the bill, with ‘mostly clarification amendments.’ The state Senate president also said the Legislature is ‘going to try’ to make the amendments available for viewing before they are heard in committee … The proposed legislation didn’t show up in either chamber in April — but attention hasn’t waned for advocates. OPRA was at the forefront of an event at Rider University on Tuesday and was a topic at a Garden State Initiative forum on Wednesday. Neither Sarlo nor lower chamber sponsor Assemblyman Joe Danielsen appeared at either event” —“Debate simmers over fate of effort to overhaul New Jersey’s public records law” GUN COSTS — “Permits to own, retail guns in NJ could cost more under Murphy plan,” by NJ Spotlight News’ John Reitmeyer: “Legal gun ownership could become more costly in New Jersey, for both buyers and retailers, if lawmakers go along with Gov. Phil Murphy’s latest push to raise more cash for the state’s annual budget. A total of 10 fee increases related to the buying and selling of guns in New Jersey are among a series of revenue raisers Murphy is asking lawmakers to approve to help balance a nearly $56 billion spending plan for the fiscal year that begins July 1. They include, among others, doubling the cost of an individual’s firearms purchaser card, from $50 to $100, and hiking the cost of a gun retailer’s license, from $50 to $500, according to a summary prepared by the nonpartisan Office of Legislative Services.” —“Officials say fixing overcrowded, aging NJ schools requires billions” —“N.J.’s climate lawsuits hurt the state’s labor workforce | Opinion” —“Officials say fixing overcrowded, aging NJ schools requires billions” —“NJ law provides certification to LGBTQ+ businesses, unlocking contracting opportunities”
| | | | THE GOLD STANDARD OF POLICY REPORTING & INTELLIGENCE: POLITICO has more than 500 journalists delivering unrivaled reporting and illuminating the policy and regulatory landscape for those who need to know what’s next. Throughout the election and the legislative and regulatory pushes that will follow, POLITICO Pro is indispensable to those who need to make informed decisions fast. The Pro platform dives deeper into critical and quickly evolving sectors and industries—finance, defense, technology, healthcare, energy—equipping policymakers and those who shape legislation and regulation with essential news and intelligence from the world’s best politics and policy journalists.
Our newsroom is deeper, more experienced, and better sourced than any other—with teams embedded in the world’s most active legislative and regulatory power centers. From Brussels to Washington, New York to London, Sacramento to Paris, we bring subscribers inside the conversations that determine policy outcomes and the future of industries, providing insight that cannot be found anywhere else. Get the premier news and policy intelligence service, SUBSCRIBE TO POLITICO PRO TODAY. | | | | | | | AROUND THE STATE | | PAYNE MEMORIAL — Donald Payne Jr. remembered at funeral as dedicated — and dapper — House member, by POLITICO’s Dustin Racioppi: Mourners from around the country and in the most powerful positions in state and national politics said goodbye Thursday to New Jersey Rep. Donald M. Payne Jr., remembering him as a dedicated, humble — and famously well-dressed — public servant. They filled the Cathedral Basilica of the Sacred Heart in his hometown of Newark and, for more than three hours, shared stories that portrayed a soft-spoken but respected politician who eschewed publicity and power to “do the right thing,” as Essex County Joe DiVincenzo put it. “Donald Payne was a blessing to the Congress of the United States,” said Speaker Emerita Nancy Pelosi, one of more than a dozen speakers at Payne’s funeral. “And he was a blessing to all of us who had the privilege to call him a colleague.” —Boyer: “A call for democracy: The legacy of Donald Payne and the power of representation” —“Payne’s death leaves N.J. with less representation on two key House committees” —“U.S. Rep. Rob Menendez seeks reelection as his father’s corruption trial looms” —“Federal judge will retire at end of the month” —“Serrano Glassner bashes Kim for vote against antisemitism bill” —“Booker on Mangi nomination: ‘It’s not over yet’” —“Bashaw goes Aater Biden as Serrano Glassner tries to pull him into a fight” | | LOCAL | | AC: ATLANTIC CANNABIS — “Petition succeeds in putting cannabis expansion on ballot in Atlantic City,” by The Press of Atlantic City’s Michelle Brunetti Post: “There will be a ballot question in November asking city residents whether a 2024 ordinance to expand the cannabis "green zone" to Albany Avenue should be repealed. The ‘green zone’ is where recreational marijuana businesses may be located … Councilman Jesse Kurtz, who represents the 6th Ward, including some of nearby Chelsea Heights, has said the neighborhood doesn't want it and was promised they wouldn't be forced to accept it.” PALMER SAYS MAYO WENT BAD — “Spotswood chief: Mayor thinks town 'is her own little empire where she can make the rules',” by MyCentralJersey’s Mike Deak: “The legal battle between the borough's top two police officers and Mayor Jackie Palmer has accelerated, with Chief Philip Corbisiero and Acting Captain Nicholas Mayo going to court to have their disciplinary charges dismissed and their suspensions lifted … The lawsuits in Middlesex County Superior Court accuse the mayor of exceeding her authority by not referring allegations of misconduct against the officers to the Middlesex County Prosecutor's Office or the state Attorney General's Office for investigation … The mayor "’wishes to be judge, jury and executioner here and believes that she can supersede and override the proper investigations and dispositions made by the Middlesex County Prosecutor's Office, but she cannot by law,’ the lawsuit argues” BLUNTING TAXES — “Neptune brought in nearly $900K in legal weed money; here's how it's cutting the tax rate,” by The Asbury Park Press’ Charles Daye: “Revenue from cannabis taxation accounts for 1.5% of the $56.3 million municipal budget in 2024, marking the first time the township will use that money to invest in the town and helping to lower the tax rate. In 2023 Neptune Township took in $871,788.43 in cannabis taxes. That money accounts for more of the 2024 budget than the capital improvement fund, which is $500,000. Chief Financial Officer Michael J. Bascom provided the budget presentation during the Township Committee meeting on April 29, and credited the cannabis funds as one of the reasons for the lowered tax rate in the budget. ‘This is a first-time investment where we are taking the funds that come in from cannabis tax and using it for parks and public safety programs. So, we start to see the benefit, not just of the revenue of cannabis but actually seeing improvements in the community add to that,’ Bascom said.” VETS AND PETS — “Jersey City creates programs for veterans, including pairing them with shelter pets,” by The Jersey Journal’s Ron Zeitlinger: “Jersey City is launching two initiatives for the city’s veterans, including one that pairs them with a furry friend from the city’s animal shelter, Mayor Steve Fulop and the Department of Health and Human Services announced. The programs are named Pets for Vets and Veterans in Total Active Lifestyle (VITAL) … said Stacey Flanagan, the director of the Department of Health and Human Services. The Pets for Vets program — in partnership with the police department’s POBA leadership and the new Division of Animal Care and Control — connects veterans with the companionship of shelter animals at no cost” SOMEONE’S ABOUT TO GET A RAISE — “Popular Paterson high school principal Moody resigns, says he was targeted by officials,” by The Paterson Press’ Joe Malinconico: “Popular city high school principal Zatiti Moody resigned from his job Wednesday night, saying he was targeted by district officials after he publicly defended an instructional aide about an incident with a student. After working almost 26 years in the city district, Moody said he will become principal of the College Achieve Public Schools (CAPS) charter high school in Paterson. Moody had taken off the entire 2023-24 year, putting in for leave after he was transferred last summer away from Paterson's alternative education high school program for students with behavior problems, which is named after his father. District officials had reassigned Moody to the principal’s office at John F. Kennedy High School, but he never reported for work there … Moody said he believes the transfer to Kennedy was punishment for his speaking at a public Board of Education meeting last May in defense of Boris Anglin, an aide who was fired after a hallway tussle with a student.” —“These are Paterson's 1st Ward council candidates. The mayor endorsed this challenger” —“[Roselle] police chief accused of using homophobic slurs calls charges ‘bogus’” —“Atlantic City Housing Authority effort is real, HUD official says, but will it be enough?”
| | | | DON’T MISS POLITICO’S ENERGY SUMMIT: The future of energy faces a crossroads in 2024 as policymakers and industry leaders shape new rules, investments and technologies. Join POLITICO’s Energy Summit on June 5 as we convene top voices to examine the shifting global policy environment in a year of major elections in the U.S. and around the world. POLITICO will examine how governments are writing and rewriting new rules for the energy future and America’s own role as a major exporter. REGISTER HERE. | | | | | | | EVERYTHING ELSE | | GAZA PROTEST — “Facing deadline, pro-Palestinian protesters at Rutgers agree to disperse, take down tents,” by NJ Advance Media’s Tina Kelley, Katie Kausch and Keith Sargeeant: “Faced with a threatened show of force by police, a group of pro-Palestinian students protesters on the main campus of Rutgers University in New Brunswick quietly left their encampment Thursday under a 4 p.m. deadline to leave or face a response by law enforcement. The move came after university officials charged that the protestors had disrupted final exams in the weeks leading up to graduation. ‘We value free speech and the right to protest, but it should not come at the cost of our students’ education and safety. We strive to balance these rights and maintain a safe and secure environment for our students to learn and succeed,’ Rutgers President Jonathan Holloway and Rutgers-New Brunswick Chancellor Francine Conway said in a statement earlier in the day … Minutes before the deadline, one of the protest leaders said they were agreeing to leave because he said the university had agreed to some of their demands. Some were soon seen breaking down tents and removing their belongings. Increasingly, onlookers unrelated to the demonstrators gathered as well, watching to see what might happen. Meanwhile, a young woman with megaphone yelled, “We will be back if the demands are not met!”” —“Rutgers postpones morning finals due to pro-Palestinian protests, encampment” —“After Columbia arrests, Rutgers pro-Palestinian encampment remained intact and peaceful” —“Drew University to revamp harassment policy, more after students' antisemitism complaint” —“Jersey City school board member faces pressure to resign after chanting controversial pro-Palestinian slogan” EVERYBODY HURTS — “'Everybody lost': How the war for control of Republic First became such a debacle,” by The Philadelphia Business Journal’s Jeff Blumenthal: “When Republic First Bancorp failed last week, the activist investors that played prominent roles in its turbulent saga were left with tens of millions of dollars in losses. Greg Braca, the former TD Bank U.S. CEO, said his investment group lost as much as $35 million — not including hefty legal expenses from its long battle with Republic First leadership — when regulators seized the Philadelphia bank on Friday. Braca teamed with South Jersey power broker George Norcross and Parker McKay CEO Philip Norcross to acquire just under 10% of Republic First’s shares in February 2022 when the stock was trading at about $5 per share. The Norcross-Braca group was left holding the bag when the Federal Deposit Insurance Corp. seized Republic First’s assets and flipped them to Fulton Financial Corp. (NASDAQ: FULT) after the stock price had bottomed out at 1 cent NO SALARY CAPS AT CAPS — “Inside the ‘astonishing’ salaries at N.J. school empire. Taxpayers foot the huge bill”’ by NJ Advance Media’s Matthew Stanmyre: “Last April, College Achieve Public Schools, known as CAPS, marked its 10-year anniversary with a ritzy celebration at The Chateau Grande in East Brunswick … The gala appeared to … give credence to its mission —to help urban and disadvantaged students excel in schools funded by taxpayer dollars. And indeed, the network has shown progress: in the state’s most recent school performance data, CAPS Paterson ranked in the top 10 for growth in both Math and English/language arts test scores, and College Achieve Central Charter School had a solid 75.0 out of 100 rating. But a closer examination of the CAPS network … reveals a more complex picture. According to tax forms, the CAPS network has devoted nearly 20% of its revenue to paying the salaries of its seven highest paid officials, adding up to what a former New Jersey education commissioner called an ‘astonishing’ amount of money … [Founder and CEO Michael] Piscal, 57, appears to be the highest-paid charter school official in New Jersey — by far — according to tax forms filed by dozens of charter schools across the state. He earned a base salary of $444,714 and $252,814 in deferred compensation and retirement benefits, according to tax forms filed by the organization in 2023 … All told, the seven highest paid officials at CAPS made nearly $2.4 million in combined total compensation” —“He started college in prison. Now, he is Rutgers-Camden’s first Truman scholar”
| | | | Follow us on Twitter | | | | Subscribe to the POLITICO Playbook family Playbook | Playbook PM | California Playbook | Florida Playbook | Illinois Playbook | Massachusetts Playbook | New Jersey Playbook | New York Playbook | Ottawa Playbook | Brussels Playbook | London Playbook View all our political and policy newsletters | | Follow us | | | | |
