For the third month in a row, the New Jersey’s revenues exceeded initial forecasts. Overall, February revenues were $156 million, or 9.5 percent, ahead of forecasts. The State Treasury Department credits a second month of strong sales tax collections combined with the continued over-performance of the state’s income tax collections.
Today, the general public got its first chance to tell state lawmakers what they think of Governor Chris Christie’s Fiscal Year (FY) 2014 State Budget proposal. The reviews where generally very positive, but it is clear that New Jersey mayors are still worried about keeping property tax increases below the 2-percent cap.
Deep automatic spending cuts will kick at midnight tonight if lawmakers in Washington, D.C. and President Barack Obama cannot reach a deal to end the country's latest fiscal crisis.
If you listened to Governor Chris Christie's State Budget Address yesterday and walked away unaware that you will be getting your property tax rebate later this year, it's not your fault.