Chris Christie Nixes Faster Budget Reporting
Gov. Chris Christie has conditionally vetoed a bill that would have required more prompt reporting each month of state finances and expanded the areas covered by the law.
Christie said Friday he appreciates the need for transparency but says the shorter deadlines and some other proposed changes fail to recognize the complexity of financial reporting. He says rushed data can lead to "erroneous interpretations."
The governor wants to see more flexibility built into any changes. He is also proposing the Legislature include a penalty provision for unauthorized dissemination of data. He says markets are too fragile for "games to be played."
The governor and Democrats are currently at odds over how state finances are trending. Democrats say the governor's projections are too rosy and Christie says the Democrats are overly pessimistic.
(Copyright 2012 by The Associated Press. All Rights Reserved.)