Elizabeth Maher Muoio

New Jersey could borrow as much as $14 billion to help replenish its budget and those of some counties and municipalities hit hard by the coronavirus pandemic.

New Jersey commuters who used to cross a river into New York or Philadelphia but have been working from home could yield an unexpected windfall for the state.

Districts that are losing aid will lose just as much as expected. Those that are gaining aid will receive, on average, two-thirds less than promised.

Murphy administration's $10B forecast for a drop in revenues is plausible, though in short term OLS expects gap to be almost $500M smaller.

The state withdraws $850 million in planned spending increases, including $386 million in school aid and $132 million for NJ Transit.

New Jersey and Illinois are the two states whose budgets are in the weakest position should a recession materialize, according to Moody's Investors Service.

Income tax collections surged to a record in April, as shortfalls in December and January proved to be merely delays, not a disappearance.

A few solid months of gas tax collections have eased concerns another increase might be triggered to reach revenue targets written into state law.

The Senate president says big savings would result if the state's health plans for teachers and other public workers merge. The governor doubts his numbers.

The state is counting on a robust but not unprecedented $3 billion in income taxes this month, exceeding what the tax generated in a whole year before 1991.