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Briana: Tonight, a marathon speech.

Senator Cory Booker takes center stage on the Senate floor, railing against the Trump Administration.

Sen. Booker: in the short time Trump has been in office, Americans have already been put in harm's way because of the reckless approach of the administration.

Briana: Bankruptcy denied.

Johnson & Johnson will have to face their massive legal and financial peril over lawsuits from their talcum powder products.

Also, tomorrow is Liberation Day, according to President Trump, but how will the additional tariffs affect you?

>> we are going to be having a much weaker economy and weaker global economy on account of this.

>> Foreign companies cannot afford to lose that much business.

They are going to come over here rapidly.

Briana: And a new reporting project here on NJ Spotlight News focusing on the state house and how the decisions made in fact you.

-- impact you.

>> We are not going to leave kids with Tourette's with no support.

We are not going to keep the cuts to higher Ed.

It is not going to happen.

The ministry and had to propose a budget that makes them look good, but at the -- the administration had to propose a budget that makes them look good, but at the end of the day, it is phony.

Briana: NJ Spotlight News begins right now.

♪ >> From NJPBS Studios, this is , NJ Spotlight News with Briana Vannozzi.

Briana: Good evening and thanks for joining us.

I'm Briana Vannozzi.

We begin with a few of today's top headlines.

First, Cory Booker has been holding the Senate floor to rail against the Trump Administration since 7:00 p.m. yesterday, vowing to speak for as long as he is physically able.

His marathon speech and ranking among the longest in Senate history, a feat of endurance to show Democrats' strong objections to actions taken by the White House.

In launching his remarks, Booker noted, "these are not normal times in our nation and should not be treated as normal in Congress."

He slammed cuts to the Social Security office, mass deportations, slashed funding for education and health care.

He listed the impacts of the president's early orders, pausing only for questions from fellow Democrats without giving up the floor.

But the speech is not technically a filibuster, which delays or prevents a vote on a bill or resolution.

Booker's staff says he wants to break the record of segregationist South Carolina Senator Strom Thurmond, who spoke for just over 24 hours against the Civil Rights Act of 1957.

During the speech, Booker said he heard the calls across the nation for lawmakers to do more to recognize the urgency of the moment.

Sen. Booker: the president has left our allies feeling abandoned, feeling degraded and insulted.

He has left our adversaries feeling emboldened and has done things that has hurt our national security and made Americans less safe.

In the short time Trump has been in office for a second term, Americans have already been put in harm's way because of the reckless approach of the administration.

Briana: A federal judge has rejected New Jersey-based Johnson & Johnson's proposal to settle thousands of lawsuits linked to its baby powder.

The pharmaceutical giant was trying for a third time to file for bankruptcy in an attempt to shield itself from an ongoing 10 billion other litigation.

These were lawsuits filed against J&J, alleging it's talcum powder caused people to develop ovarian cancer through its use as a feminine hygiene product, as well as mesothelioma .

Those claims caused a drop in sales of J&J's baby powder, prompting the company to stop selling talc-based products in 2020.

The judge overseeing the case said in his ruling the pharmaceutical company did not belong in bankruptcy because there were too many problems with its proposal.

J&J said it would not appeal but also said it had no intention of settling the claims, calling them meritless.

And 20 public school districts stand to lose a combined $85 million in federal Covid relief funds.

According to Governor Murphy's office, the Trump Administration decided to cut extensions given to the district last year to use up the federal money.

Murphy in a statement called the action reckless and devastating for the schools, leaving them little time for a contingency.

During the announcement, the U.S. education Secretary, Linda McMahon, said the pandemic has long been over in the money should have been spent years ago.

The funds were slated to be used for school and researcher projects and more mental health support for students, according to the state.

The districts will now need to submit proposals on a project by project basis to be reconsidered.

Among those hit are Patterson and Newark, two of the highest poverty school districts.

President Trump has dubbed tomorrow Liberation Day, when he will unveil the next phase in his trade policy, focus on reciprocal tariffs the White House says will roll back "unfair trade practices that have been ripping off the country for decades."

The president says taxes on imports from other countries will free the U.S. from reliance on foreign goods.

But a lot remains unknown about how much the tariffs will be and what items they will affect.

The trade plan also comes one day before 25% tariffs on imported auto and auto parts begins.

For more on what to expect, I am joined by a Stanford and Rutgers economics professors.

Michael, President Trump argues that tariffs will help reduce trade deficit.

Do you believe that approach can have a significant impact over time, and in how much time might we see that change?

>> So, we have a very severe problem in that we have a very negative balance of the trade.

This year, we will import about $1.2 trillion worth of goods and export only about $400 billion worth.

That $800 billion shortfall is money flowing out of the country.

It is really wealth that the U.S. is losing.

How do you fix that?

Two ways.

You either start importing less or exporting more.

Trump's first position would be to export more.

All he is saying is whatever tariffs anybody places, they should be the same, reciprocal tariffs.

Right now we charged a 2.5% tariff on virtually everything brought into the country.

We try to import China, they charge a 25% tariff.

On Corvettes they charge a 50% tariff.

The European Union, we let them bring their cars in here with a 2.5% tariff.

They charge a 10% tariff with a value added that adds even more to it.

India, Harley Davidson has a big market.

India placed a 100% tariff on Harley Davidson motorcycles, so they went over to India to build a plant.

By placing these tariffs -- and I'm not sure all of these are going to go into effect -- this is a negotiating point -- some will -- but on some of our more favorable trading partners, I have a feeling a deal will be made and you will not see all of these tariffs going into effect.

Briana: How do you see it?

What Michael is saying is it has essentially driven these folks out and these reciprocal tariffs have sort of already been there.

>> They have already been there, and as a matter of fact, we have been doing pretty well within.

The idea is to try and improve the deficit, which is not that substantial to begin with.

Take a look at the numbers you just quoted.

It is less than 5% of U.S. GDP.

Consequently, there is a better way to go about things rather than to have tariffs imposed universally and influence world trade platters -- world trade patterns.

We have been there, done that, and it has never succeeded.

I go back to the Smith Holly tariffs of the 1930's, in which case the volume of world trade shrank.

Leave alone improving the U.S. deficits.

But we are going to be having is a much weaker economy and a weaker global economy on account of this.

Let me stay with -- Briana: Let me stay with you on that.

Do tariffs play a role in encouraging more domestic production, and then in return also creating more jobs in the U.S.?

Is there not a role there?

>> And the longer term, that may be feasible, but in the shorter-term it is not.

In a lot of production processes, the supply chains have been put together so you are using some of the imports -- the supply chains are very complex, and the product goes back and forth between, let's say, Canada and Mexico.

As a result of which the improvements that we are thinking about, improvement in jobs, in production activity, that might not be there at all in the near term.

Mistakes are a very long time to play out, and unfortunately there is going to be a lot of distress and dislocation in the short term.

Briana: Michael, have you then combat that argument, that she and other critics have stated that it increases costs for consumers and could disrupt the global supply chain?

How do you reconcile this with the claims of long-term benefits?

Michael: Trump does not want to convene a bipartisan committee come and this, negotiate that, light years go by.

He wants to fix it today.

He announces a 25% tariff.

Honda said we are going to build a plant in Mexico, we can't do that anymore, we are going to build it in Indiana.

Hyundai says we are building a steel production facility and car manufacturing here.

The 25% tariff, the foreign companies cannot afford to lose that much business.

They are going to come over here rapidly and start building plants.

They can't build them overnight, but we will build them rapidly.

In addition to that, for automobiles, the U.S. car companies today are operating about 65% capacity.

They will start ramping up production literally overnight, probably at a second and third shift, and people will start to say American cars are just as good as the foreign cars, and they are a heck of a lot cheaper.

That will encourage more domestic production.

825% tariff on steel, aluminum, medical products will already bring manufacturing back quickly.

Briana: We have spoken with automakers and businesses in general that say just the unpredictable nature with which these have been rolled out , on-again, off-again, one day different to the next, that it has made it difficult for them to plan for the future.

What do you say to that in the way it has been rolled out?

Michael: Nothing has been etched in stone here.

President Trump is a business person first.

He understands how to negotiate.

Instead of waiting a long time to get these people to agree to anything, what a businessperson does, you have a reluctant trading partner, is create a sense of urgency.

He puts these tariffs on, it creates a sense of urgency.

There is a lot of uncertainty now, and that is why the stock market is doing so poorly, and I would agree with you, but you will see in the next couple of months, even starting tomorrow when he is going to announce this day of liberation, you will start seeing negotiations take place that will end up eventually with reciprocal tariffs, more production in the U.S., especially in steel, limit him, and vital medical tax, and aid in America will now be prestigious in the world.

We will have more opportunities for people and companies will attract investment.

Briana: Your final thoughts?

Parul: A lot of what Michael is saying is a little far-fetched for me.

The numbers I am seeing are indicating we will get back were GDP growth in the United States, we are going to see higher rates of inflation, and the numbers I am seeing from the administration, we are going to get $600 billion a year amounting to over 10 years, so $6 trillion in the government coffers.

Where is that money coming from?

It is coming from U.S. consumers .

So this is a tax.

This is protectionism.

Does the U.S. need it?

Are there better avenues to negotiate fairer trade conditions?

Sure, but this is just a big tax on everybody, and all of us, including Michael himself, is going to be the recipient of that additional tariff.

Briana: Michael, I will give you a quick chance to respond, but we've got to end it there.

Michael: She is correct, a tariff is a tax and we will have upward pressure on price.

However, President Trump is going to vastly increase the supply of energy.

He says he will cut energy prices in half by the end of the year.

Any negative impacts on inflation from these tariffs will be more than offset by the reduction in energy prices.

Energy accounts for 7% of the CPI directly and indirectly nearly 30%.

A year from now, you will see American factories up and running again, and the inflation rate will be back down to where it was when Trump left office last time, 1.4%.

Briana: Have to leave it there.

Great insight.

Thank you both for the conversation.

In Trenton today, testimony from the big two on Governor Murphy's proposed $58 billion state budget.

The state treasurer and top representatives from the nonpartisan office of legislative services each offered their own assessment and forecast on the spending plan.

It is all as New Jersey faces economic headwinds due to federal cuts and looks to introduce about a billion dollars in new taxes.

Senior correspondent Brenda Flanagan is at the Statehouse as part of our new reporting project Under the Dome, exploring the state government and its impact on New Jersey.

Brenda: Trenton lawmakers gathered around their version of the kitchen table to hash out how much money they will have just been on the next state budget.

Forecasts from the nonpartisan office of legislative services urged caution, warning the governor's budget proposals bids about a billion dollars more than New Jersey will raise in projected revenues.

>> this budget spends more than it takes in, correct?

>> Correct.

Since fiscal 2024, state spending has exceeded and is anticipated to continue to exceed slowly growing revenue collections.

A scenario that steadily erodes the state's relatively elevated reserves.

Brenda: It is estimated current spending levels will burn through New Jersey's current $6 billion surplus by 2028.

While both OLS and the state treasurer generally agree on projected revenue estimates, the economic outlook remains highly volatile.

>> Fiscal year 26 is more complicated.

About the state economy remains on stable footing, volatility shifting consumer behavior and potential policy shifts could adversely impact revenue collections.

Brenda: Stock market unpredictability serves the Senate chair budget committee.

A senator pointed to headlines of sacking profits on Wall Street, an important revenue source for New Jersey.

>> Our revenues are driven by gross income tax.

Predominately by folks in the northern part of the state, Wall Street bonuses, Wall Street income.

Brenda: Senators also raise red flags about potentially steep cuts in federal funding.

State treasurer Liz Moya noted the Trump Administration has already frozen hundreds of billions of dollars, funds the state spent expecting to be reimbursed.

>> We will get the notice at 5:00 and it will say effective today, you need to stop spending this money.

The potential hit to our budget and our programs could be drastic.

That is a major concern for all of us as we navigate this budget.

>> It is enormous.

We are talking billions upon billions of dollars per year.

So the only choice at that point would be to find the money elsewhere.

Brenda: The treasurer also noted that state health benefit plans would require another massive rate increase.

She explained Murphy's budget does cap discretionary spending, but Republicans scoffed.

>> We are not going to leave the kids with Tourette's without support.

It's not going to happen.

And if it was weaker or not, the administration knows this, they got to propose a budget that makes them look good, but at the end of the day, it is phony.

Brenda: The treasurer says that governor's budget does increase a billion dollars in fees on alcohol, tobacco, sports betting, and more, rather razors that could help fill that projected budget gap.

>> These changes ensure we will serve the people and fulfill our obligations well reducing the structural budget gap.

Brenda: But Republicans say there are little support for tax hikes in the legislature.

>> I will not be supporting them, and they will not be a part of the final budget document.

Brenda: As uncertainty remains from the federal government, worst case scenario, lawmakers can pass a budget by June and return to rebalance it if necessary.

At the Statehouse in Trenton, I'm Brenda Flanagan.

Briana: As I mentioned, NJ Spotlight News is launching a new multimedia series called "Under the Dome," an in-depth series of Statehouse reporting on New Jersey's government, its governor, legislature, and how it all operates, with a focus on three areas that are arguably the most essential to people living here -- affordability, accountability, and accessibility.

For more, I am joined by NJ Spotlight News' founding editor, John Moody.

John, welcome.

Great to see you as always.

We just saw a little bit of Brenda's reporting.

What is the hope and goal of this project?

John: When we were selected, we were one of about a dozen new sites nationwide that were selected for this project that really aims to look more closely at state government in their respective state, and in our case come out of Trenton and the state as a whole.

With an intention that the state government nationwide does not get a lot of these days as the news ecosystem shrinks.

Corporation for Public Broadcasting is supporting this through grants, and in our case, we already do a lot of coverage, as Brenda showed, of state government, but it gave us the opportunity to do more in-depth cases that really look at how they work, how they impact, or how agencies impact local communities, local businesses, local residents.

We will be doing more analysis stories, explain her stories, profiles of prominent people.

We just ran one today of the governor.

It will be a regular thing.

Briana: It is all multimedia, so people can expect this to see in different formats?

John: We will have a broadcast, a podcast, a lot about reach through social media for folks -- what are their questions for us to be asking?

Briana: So audience input.

This is an opportunity for viewers to say here's what I want to know about the inner workings of state government.

John: "Under the Dome" at NJ Spotlight News.org.

You will see a lot of reminders on this.

I think it is exciting.

It gives it a different look, a different way to get at these real issues that do impact.

This is a critical time for state governments.

Briana: You mentioned the ecosystem is shrinking, but also, when there are more eyes and ears on a government body, the actors tend to behave differently, so how does that factor in given the whole political climate, the polarization, the divisiveness?

John: Not to mention we also have an election coming up with the governor and our entire assembly.

Bringing attention to these issues does serve the public very well, and our watchdog role is only amplified through this project.

Briana: Is there a landing page where folks can go to find this, and what other types of issues within the state government umbrella are going to be covered?

John: There is a landing page which, if it isn't already, will be up as we populate it.

We had our first two stories today, one on how COVID money had been spent -- billions of dollars.

Also, the piece on the governorship.

We have planned a piece on school funding and how that is derived.

Big topic.

We will be doing something on the 988 mental health hotline, how that works.

What are the components of that?

I mentioned the podcast.

I think it will be a big favorite, where John McAlpine and Mattie Ference will be sitting down weekly and summing up the news of the week and also the work we've done and how they did the work.

It is an exciting project.

Briana: You can check out the podcast, the landing page for all these stories Under the Dome on NJSpotlightnews.org.

We have a multimedia series that will be ongoing for the next two years.

John: It is a two-year project, so there will be lots of opportunities for readers.

Briana: Thanks for coming in.

John: Thanks, Bri.

>> This program was made possible by the Corporation for Public Broadcasting.

Briana: That is going to do it for us tonight, but before we go, a reminder, you can download our podcast wherever you listen, and watch us any time by subscribing to the YouTube channel.

Plus, you can follow us on Instagram and Bluesky to stay up-to-date.

I'm Briana Vannozzi.

Have a great evening.

We will see you back here tomorrow.

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