Clock is Ticking for NJ’s Competing Tax Cut Plans [AUDIO]
The clock is ticking, only 23 days left for the legislature to get a balanced state budget passed and come to an agreement on one of three competing tax cut plans.
The clock is ticking, only 23 days left for the legislature to get a balanced state budget passed and come to an agreement on one of three competing tax cut plans.
The latest state revenue figures which show collections for April are $230 million below what Governor Chris Christie's administration had projected. Assembly democrats are pouncing on the bad news and saying it proves their call for a millionaires tax increases makes sense now more than ever.
New Jersey tax collections for Fiscal Year 2012 are up from the same period last year, but April results are $60 million below Governor Chris Christie's expectations. This leaves State revenues $230.3 million behind February's revised forecasts for the first 10 months of the fiscal year.