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| By Daniel Han |
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Good Tuesday morning! For the second time since the Oct. 7 attacks on Israel, New Jersey may divest from a company it alleges to be boycotting Israel. Let’s take a step back: In 2016, then-Gov. Chris Christie approved a law that forbids the state’s pension system from investing in companies that boycott Israel (most states have such a law). The law has been rarely used since — although in a notable moment several years back, the Murphy administration pulled nearly $200 million from Ben and Jerry’s parent company after the ice cream maker said it wouldn’t sell in “Occupied Palestinian Territory.” Now such a divestment may happen again, albeit at a much smaller scale. According to records obtained by POLITICO through a records request, state Treasury officials notified Norwegian financial services company Storebrand that it may face divestment for cutting ties with two companies that contract with the Israeli government. See the state’s reasoning here. A Storebrand official wrote to state officials on Nov. 19 that the company “does not have a policy of boycotting, divesting or sanctioning of the state of Israel” and that they invest in Israeli companies. While state Treasury officials sought a response in a 90-day window or finalize the findings — Treasury first notified the company on Aug. 14 — Treasury officials said as of Nov. 20 the letter was still “under review.” If this sounds familiar it’s because we’ve been here recently. In April the state Treasury notified Japanese conglomerate ITOCHU that it may face divestment under the pro-Israel law, although state officials notified the company in early September that they determined ITOCHU did not engage in a boycott of Israel, as per emails you can see here. The financial stakes are low, given the state’s pension is many billions of dollars. According to Treasury spokesperson Danielle Currie, the state pension fund had $27,166,078 invested in ITOCHU as of late September. During the same time the state had $212,027 invested in Storebrand. But the decision to divest — should it come to this — is more of a symbolic statement from the state than a financial one. QUOTE OF THE DAY: “I hear from so many people right now in New Jersey and elsewhere that politics is just an insiders’ game, benefiting the few over the American people’s everyday needs. … While as a dad I can sympathize with President Biden’s family, as a citizen, I am disappointed in his decision.” — Rep. Andy Kim, doing a “I'm not mad, I'm just disappointed” on President Joe Biden’s decision to pardon Hunter Biden (after the older Biden repeatedly said he would not pardon his son). TIPS? FEEDBACK? Email me at Dhan@politico.com HAPPY BIRTHDAY: Clean Water Action’s Amy Goldsmith, Hoboken Strategies’ Kay LiCausi WHERE’S MURPHY?: In New Brunswick at 9 a.m. to deliver remarks at the New Jersey Historical Commission's 2024 New Jersey History Conference. | | | | A message from Johnson & Johnson:
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 | WHAT TRENTON MADE | |
AN AUTH-ENTIC TRUMP SUPPORTER — GOP state Sen. Jon Bramnick’s campaign is touting an endorsement from conservative state lawmaker Bob Auth — and making note of Auth’s early support for Trump. The endorsement released by the Bramnick campaign notes that Auth was an early backer of Trump for president in 2016, a fact that seemed unusual for the Bramnick campaign to highlight since the senator is among the state’s leading Trump critics. “I didn't write it, but the point is this: It said there's different parts of the Republican Party. They have different opinions. But [Auth’s] saying ‘Jon Bramnick, regardless whether we agree on everything, I support him,’” Bramnick said in an interview with POLITICO.
Support for Trump has been an early theme in the GOP primary, with two other leading Republican candidates — 2021 GOP nominee Jack Ciattarelli and conservative radio host Bill Spadea — attacking one another for old comments they made criticizing Trump. Auth said Bramnick is the “only Republican” who can win a general election — an argument that has been key to Bramnick’s pitch for governor. Bramnick represents a suburban district that has swung heavily Democratic in recent years. — Daniel Han BUILDING SUPPORT BRICK BY BRICK IN NEWARK — Speaking of gubernatorial endorsements, Newark Mayor Ras Baraka got an endorsement from Rep. LaMonica McIver (D-N.J.) in his bid for governor. McIver formerly served on the Newark City Council. THAT’S GAS? — “N.J. gas tax to rise by 2.6 cents on Jan. 1,” by the New Jersey Monitor’s Nikita Biryukov: “New Jersey’s gas tax will rise by 2.6 cents on Jan. 1 because of a new law that raised revenue targets to pay for the state’s transportation infrastructure, Treasury officials announced Monday. This year’s annual increase will bring New Jersey’s combined gas taxes to 44.9 cents per gallon, up from 42.3 cents, while total taxes on each gallon of diesel will rise from 49.3 cents to 51.9 cents. … Revenue from New Jersey’s gas taxes is dedicated to the state’s transportation trust fund, which pays for infrastructure investments in roads, bridges, and other projects.” |
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MURPHY STILL ALIVE — “Amtrak reports 'minimal delays' Monday afternoon, but NJ Transit still warns of cancellations,” by Gothamist’s Brittany Kriegstein and Louis C. Hochman: “Amtrak said Monday afternoon it was only seeing ‘minimal delays’ along the Northeast Corridor after overhead wire damage halted service between New York City and Philadelphia earlier in the day. But NJ Transit, which also uses the Northeast Corridor rails, was still warning most of its lines were subject to cancellations and delays.”
— Jewish Insider: "Sherrill says as governor she’d want to make N.J. ‘a model’ for combating antisemitism” — ROI-NJ: "Awilda Pomales-Diaz named executive director of N.J. Puerto Rico Commission” — ROI-NJ: “For business leaders from Mexico, a chance to look past rhetoric and see reality of N.J.” — New Jersey Monitor: “Vacancies, diminished duties of prison oversight boards spur demands for change” — New Jersey Globe: “Voter registration slows after election, but GOP retains edge” | | | | A message from Johnson & Johnson:   | | | |
| BIDEN TIME | |
HUNTER BIDEN PARDON — “Platkin rebukes Biden for pardoning his son,” by New Jersey Globe’s Joey Fox: “Lame-duck President Joe Biden’s decision to pardon his son Hunter of convictions on tax and gun charges has set off a wave of criticism from Republican elected officials around the country — and from at least one notable New Jersey Democrat. Attorney General Matt Platkin, who holds a prominent appointed role in the administration of Gov. Phil Murphy, said [Sunday] that pardoning Hunter Biden — which Joe Biden had previously pledged not to do — undermines Democrats’ arguments against corruption and undermines voter trust. ‘We can’t care about the rule of law some of the time. We can’t care about corruption some of the time. It’s
pass fail,’ Platkin said. ‘This pardon further weakens the fragile trust in our institutions that hold power to account.’”
CORY IN THE HOUSE SENATE — “Schumer eyes new leadership job for Cory Booker,” by Axios’ Stephen Neukam: “Sen. Amy Klobuchar (D-Minn.) is expected to become the number three ranking Democrat in the Senate, and Sen. Cory Booker (D-N.J.) — who wanted that position — will notch a leadership position just under her, Axios has learned. Senate Democratic Leader Chuck Schumer (D-N.Y.) will shuffle his leadership roster to give both lawmakers top leaderships gigs, avoiding a clash between two ambitious and well-liked members of his caucus. ... Booker is expected to serve in the #4 ranking role, in a broader leadership shuffle by Schumer. The number four role used to be the chair of the steering committee, but Booker will take on a new position above that. His exact role is
unclear.” SACRE BLEU! — “France riled by Trump pick of Charles Kushner as Paris envoy,” by the Financial Times’ Adrienne Klasa: “France’s establishment reacted with a mixture of resignation and muted scorn to president-elect Donald Trump’s nomination of real estate developer, pardoned felon and family connection Charles Kushner as US ambassador to France. … The news was met with scepticism on the other side of the Atlantic. ‘I recommend reading his résumé. ‘Juicy’ as the Americans would say . . . Needless to say, he has no knowledge of our country. At least he will have access to the president. We console ourselves as best we can,’ former French ambassador to the US Gérard Araud wrote on X.”
FEDS: DRONING ON NOT ALLOWED — “After mysterious flights, FAA bans drones over Trump’s N.J. golf course,” by NJ Advance Media’s Tina Kelley: “The Federal Aviation Administration has prohibited drone flights over the Trump National Golf Club in Bedminster, and the Picatinny Arsenal Military Base in Rockaway, following reports of unexplained drone activity last month, the administration said Monday. The prohibition over the golf course was issued Nov. 22 and lasts until Dec. 6, and the one over the military base ranges from Nov. 25 to Dec. 26.” — Punchbowl News: “Inside New Jersey’s right-wing shift” — Op-Ed: “Kennedy’s views on vaccines disqualify him for health leadership role” | | | | Want to know what's really happening with Congress's make-or-break spending fights? Get daily insider analysis of Hill negotiations, funding deadlines, and breaking developments—free in your inbox with Inside Congress. Subscribe now. | | | | | |
| LOCAL
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THE RENT IS TOO DAMN HIGH — “What exactly is an ‘unconscionable’ rent increase? Hoboken councilmembers say 10% in proposed law,” by The Jersey Journal’s Teri West: “New Jersey doesn’t specify a number for how much of a rent increase is too much, instead opting for the often perplexing and up-to-interpretation limit of ‘unconscionable.’ So in Hoboken, two councilmembers want to define exactly what qualifies as an unconscionable rent increase to eliminate any ambiguity, and the range they have chosen is anything above 10%. The new ordinance, up for a first vote Wednesday, would prohibit landlords from increasing rents in occupied non-rent-controlled units by more than 10% a year, which is well below the rent increases some tenants have experienced in recent years.”
— Courier-Post: “Pitman residents will soon be asked: Should officials borrow $21M for school renovations?” — Hudson County View: “Ex-Bayonne rec worker sues, alleges city wouldn’t accommodate her after 2 strokes” — NJ Advance Media: “Sewage in N.J. city streets? Sea level rise could bring worse problems than flooding.” | | | | A message from Johnson & Johnson:
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| EVERYTHING ELSE | |
LICENSURE — “2 longtime patients said N.J. OB/GYN inappropriately touched them during exams,” by NJ Advance Media’s Nicolas Fernandes: "The state Attorney General’s Office has temporarily suspended the license of a doctor who is accused of inappropriately touching two female patients. Bruce Pierce, who practiced as an obstetrician-gynecologist at Delaware Valley OBGYN & Princeton Midwifery in Lawrenceville, is accused of engaging in professional misconduct, gross negligence and incompetence, and other violations, the state said. At a November 13 hearing, which included testimony from both patients, the Attorney General’s state board of medical examiners unanimously voted to temporarily suspend Pierce‘s license pending the outcome of the accusations."
LAYOFFS — “Fresh wave of health care layoffs hits NJ at Novartis, Bristol Myers Squibb,” by NJ Biz’s Kimberly Redmond: “Another wave of layoffs is set to impact New Jersey’s pharmaceutical sector. Novartis and Bristol Myers Squibb both recently disclosed planned workforce reductions. In a filing with the state Department of Labor & Workforce Development, Swiss pharma giant Novartis said it will eliminate 139 positions at its U.S. headquarters in East Hanover. The cuts will take place between Feb. 7, 2025, and Aug. 28, 2025.” TIME FOR SOME PUBLIC WORKS PROJECTS IN FORT LEE — “$2B project to restore the GW Bridge is more than halfway done. What’s left?” by NJ Advance Media’s Larry Higgs: “For drivers who are used to (and maybe sick of) seeing orange barrels, work zone signs and construction crews on the mighty George Washington Bridge since 2015, there’s some good news — the Port Authority’s $2 billion ‘Restoring the George’ project is officially beyond the halfway point. On Monday, Port Authority officials said the project to replace every one of the original steel suspender ropes that help support the roadway on the 93-year-old suspension bridge is more than 95% complete, with just 24 of the 592 metal ropes left to be replaced.” — “N.J. electric company seeks rate hike after summer when customers saw unexpectedly high bills,” by NJ Advance Media’s Eric Conklin: “Atlantic City Electric, the utility company that powers millions of homes and businesses in South Jersey, wants to raise rates on its electricity after investing in energy-delivering capabilities to limit outages, according to company officials. The provider filed a rate increase request on Nov. 21 with the New Jersey Board of Public [Utilities] seeking to use the funds to pay for $109 million in infrastructure work.” — The Jersey Journal: “Transfer of BMC to Hudson Regional Hospital takes major step with recommendation by state DOH” — Hudson County View: “NJCU and Jersey City BOE sign agreement to strengthen visual & performing arts”
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