Contact Us
Make My Homepage

State Tax Collections Once Again Below Estimates

In a sign of lingering economic uncertainty, tax collections fell short of the Christie administration’s estimates for the third straight month, according to figures released Friday by the Treasury Department.

Flickr User 401K

The state brought in $2.02 billion in May — off $36.4 million from Treasury estimates that had been revised downward only three weeks ago.

The disappointing numbers came a day after Democratic lawmakers drew a line in the sand in their budget battle with Gov. Chris Christie, saying they would only approve a plan to cut taxes if the governor nails his optimistic revenue targets through December.

A state Treasury Department spokesman, Andy Pratt, said the May shortfall was “manageable” and that no financial adjustments would be necessary beyond what has already been announced.

But budget analysts in the nonpartisan Office of Legislative Services said New Jersey needs a turbo-charged comeback over the next few weeks to end the fiscal year in the black.


Information from: The Star-Ledger;


Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.