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nj budget - Page 2

NJ Assembly Speaker Vinnie Prieto
NJ Assembly Speaker Vinnie Prieto (David Matthau, Townsquare Media NJ)
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Assembly Dems propose millionaire’s tax [AUDIO]

Assembly Democrats unveiled an alternative budget on Thursday one day after Senate Democrats released theirs. While the two plans differ slightly, there is one common element: they both call for hiking taxes on the wealthy in New Jersey.

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NJ Senate President Steve Sweeney and Majority Leader Loretta Weinberg propose changes to the state budget. (Kevin McArdle, Townsquare Media NJ)
NJ Senate President Steve Sweeney and Majority Leader Loretta Weinberg propose changes to the state budget. (Kevin McArdle, Townsquare Media NJ)
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NJ Senate leaders propose millionaire’s tax hike [POLL/AUDIO]

Not pleased with Gov. Chris Christie’s spending plan, the top two Democrats in the State Senate presented an alternative state budget Wednesday, which includes a tax increase for New Jersey’s wealthiest residents - something the governor has said he would not accept.

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NJ Assembly Speaker Vinnie Prieto
NJ Assembly Speaker Vinnie Prieto (David Matthau, Townsquare Media NJ)
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Lawmaker: NJ Budget a ‘Work in Progress’ [AUDIO]

The top lawmaker in the General Assembly said lawmakers are not waiting for a court to rule in a lawsuit seeking to stop Gov. Chris Christie from dramatically slashing the state's contribution to the public employee pension system.

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Money
Andrew Unangst, Getty Images
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NJ Treasurer Explains Tax Cut Benefits [AUDIO]

New Jersey will collect $2.75 billion less in revenue than Gov. Chris Christie originally anticipated through the end of the next fiscal year, but his treasurer told the Assembly Budget Committee on Wednesday that an argument could still be made for tax cuts.

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Gov. Chris Christie
Kevin McArdle, Townsquare Media NJ
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WATCH: Christie to Cut Pension Payments by $2.5B [POLL/VIDEO/AUDIO]

Watch the Assembly budget committee meet as Gov. Chris Christie announces plans to slash the state's contribution to the public workers' pension system by almost $2.5 billion for the combined fiscal years.

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Gov. Chris Christie
Jessica Kourkounis, Getty Images
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Analysts: Budget Cuts Were ‘Predictable’ [AUDIO]

Political observers say with Christie possibly considering a 2016 presidential run, the move to slash the public worker pension fund contribution by $2.75 billion was completely predictable.

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Governor Chris Christie gives the Budget Address in the Assembly Chambers at the Statehouse in Trenton, N.J. (Governor's Office/Tim Larsen)
Governor Chris Christie gives the Budget Address in the Assembly Chambers at the Statehouse in Trenton, N.J. (Governor's Office/Tim Larsen)
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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.

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Gov. Chris Christie Delivers Fiscal Year 2015 Budget Address
Jeff Zelevansky, Getty Images
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NJ Treasurer: All Spending Cuts on Table [AUDIO]

There is an $807 million shortfall in the current year's budget and the Fiscal Year ends in less than two months. How does Gov. Chris Christie's administration plan to plug that gap?

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Money
Chung Sung-Jun, Getty Images
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NJ Tax Collections Far Short of Projections

New Jersey's Treasury Department anticipates that tax collections will be off by $807 million for the fiscal year ending June 30, forcing late cuts to keep the budget in balance.

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Senate President Steve Sweeney
Senate President Steve Sweeney (Kevin McArdle, Townsquare Media NJ)
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Sweeney: We’ll Be Able to Reach a Budget Deal [AUDIO]

Will New Jersey's revenue shortfall affect the ability of state officials to hammer out a final budget deal? State Senate President Steve Sweeney doesn't think so.

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