Chris Christie to reduce pension payments to fill $800M NJ budget gap (via NJ.com)
TRENTON — Gov. Chris Christie today announced plans to reduce two key payments scheduled for the state’s pension system for public workers — an emergency move that could trigger lawsuits and further downgrades of the state’s credit rating but solves…
Governor Chris Christie will hold a press conference this afternoon at 2PM to announce his steps to close the $800 million budget deficit in the current fiscal year.
The budget must be balanced on June 30.
The press conference can be viewed live here:
Guadagno Visit to TechLaunch Sparks Small Business Week Enthusiasm (via NJ Tech Weekly)
New Jersey Lt. Gov. Kim Guadagno visited the TechLaunch (Clifton) accelerator on May 6, 2014, bringing her own special brand of excitement and marketing know-how to the young companies participating in the 16-week boot camp program. She dropped by TechLaunch…
Chris Christie’s spokesman calls bridge closings ‘idiotic,’ lays out timeline (via NJ.com)
TRENTON — Gov. Chris Christie’s chief spokesman told lawmakers investigating the George Washington Bridge lane closings Tuesday that he had nothing to do with “this idiotic episode” and that he didn’t attempt to cover it up when the controversy…
Christie conditionally vetoes Sandy ‘Bill of Rights’ (via NJ.com)
TRENTON — Gov. Chris Christie today stripped down a bill drafted in response to concerns about how well the state has distributed federal Hurricane Sandy relief aid, saying it included mandates that would be impossible to implement and featured “partisan…
NJ pension payment could be delayed by Christie, risking downgrades (via NJ.com)
TRENTON — New Jersey may delay a payment to the state pension fund by several days to help plug an $807 million budget gap, the state treasurer said Thursday, a risky move that could touch off union lawsuits and downgrades by Wall Street credit-rating…
Analysis: Tax Amnesty Eyed As Part Of $1.4 Billion Budget Solution (via NJSpotlight)
Five years ago, Gov. Jon Corzine’s Treasury Department opened up envelopes containing more than $200 million in checks in a single day en route to a record $725 million tax amnesty windfall that not only solved a current-year budget crisis, but enabled…
NJ has distributed less than 25 percent of Sandy aid (via NJ.com)
About a year after the federal government allocated $1.8 billion to New Jersey to rebuild after Hurricane Sandy, the state has distributed less than a quarter of the disaster relief aid, according to a new report. State officials, however, claim they…
NJ debt downgraded for fifth time under Christie (via NJ.com)
TRENTON — A major Wall Street credit-rating agency downgraded New Jersey’s debt again Thursday, unnerved by “both the scale and belatedness” of an $807 million budget gap disclosed this week by Gov. Chris Christie’s administration. The action…
Moody’s Expects New Jersey To Use ‘One-Shots’ To Fill Shortfall (via NJSpotlight)
While Gov. Chris Christie is proclaiming that there is “nothing off the table” to close this year’s $800 million budget gap, Moody’s Investors Service said yesterday it will be keeping a close watch not only on how heavily the state relies on…
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