Pension sytem and road fund could derail state budget
Gov. Chris Christie is back in New Jersey after traveling to Washington D.C., Chicago and Virginia in recent weeks to put the finishing touches on his state budget. He's scheduled to deliver his sixth budget address at 2 p.m. tomorrow in Trenton.
There's been no word on an agreement on a possible gas tax hike to fund the nearly bankrupt transportation trust fund, the pot of money used for road and bridge repairs. The fund is expected to be insolvent by July 1.
There's also been no talk of an agreement to fund the debt-ridden pension system for New Jersey's state workers. According to a report by the state treasurer, the pension system is carrying $37 billion in debt.
Those two issues could derail the budget process as Christie continues to travel the country trying to shore up support for a possible presidential run in 2016.
Christie signed a $32.5 billion budget into law last year, averting a government shutdown.
The Associated Press contributed to this report.