Martin Poethke

The Murphy administration says revenues in the current and upcoming years will be $7.8 billion higher than it expected in March.

Considering the record revenues and surplus, there was quite a bit of angst as the Assembly Budget Committee met with Gov. Phil Murphy's treasurer.

The gas tax formula depends in part on projected consumption. Murphy administration says traffic volume won't improve much through next June.

The Office of Legislative Services forecasts a drop in revenues but projects it to be $1.37 billion higher than the Murphy administration does.