Christie to Offer Budget Adjustments This Week
Gov. Chris Christie says the administration’s proposals for closing an $800 million budget shortage should be ready by mid-week.
Christie could propose closing the gap through a combination of executive actions and proposals that need legislative approval. But with six weeks to go in the fiscal year, there are few pots of money still available.
Treasurer Andrew Sidamon-Eristoff says school aid, student and higher education assistance and employee benefits are all on the table. Nursing homes and hospitals could also be hit.
Sidamon-Eristoff is scheduled to appear Wednesday before the Assembly Budget Committee.
The administration announced it was missing revenue targets after seeing April tax returns.
Three Wall Street bond rating agencies recently downgraded New Jersey’s credit rating, making it more expensive for the state to borrow money.