Chris Christie Not Worried About Lagging Revenues [VIDEO]
State revenues are up from last year, but still slightly below Governor Chris Christie's budget estimates.
Don't expect any drastic response like tax increases or Draconian cuts because Christie says he's not the slightest bit concerned.
"We're three-tenths of a percent behind our projection with the April receipts not in yet," explains Christie. "Bet on us. Our projections will be right again. In a $30 billion budget, three-tenths of a percent behind with April collections which is our big month of the year not in yet. I think we're going to do just fine so don't worry about projections. I think we'll be okay as we have been throughout this administration. What we predict usually is what comes out."
New Jersey's economy has grown by 3.6% in the first three quarters of this year compared to the same time last year. State income tax collections are up 2.9%. State sales tax revenues are up 3.1% and business tax collections are up 7.9% There is bad news. Casino revenues are lagging 13.9% behind Christie's estimates.
The Governor announced plans to revitalize Atlantic City earlier this year and says more announcements about plans for the resort city will be coming soon.
"The decline of Atlantic City took a number of years to come so the re-birth of Atlantic City is going to take a number of years to come too, but I think we're on the right path and I haven't heard anybody with a better idea" says Christie. "I never like seeing our revenue projections lag in any area. I'd like to see us out perform is every area."
Courtesy Governor's Office