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?
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.
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.
The top budget analyst with New Jersey's nonpartisan Office of Legislative Services has informed Senate and Assembly budget committees that if the Garden State's economic rebound mirrored national performance, the state would have had roughly $3.3 billion more to spend in the current year's budget.
New Jersey Democrats responded to Gov. Chris Christie's $34.4 billion state budget Tuesday, calling for more job growth and an increase in state revenue.
New Jersey Gov. Chris Christie promises to spend the next several months hammering the Democrat-controlled legislature for not passing the tax cut he's been demanding.