TRENTON — State budget officials predict New Jersey will face a $487 million budget shortfall this year and $622 million shortfall next year due mostly to sluggish income tax collections. The nonpartisan Office of Legislative Services will present its estimates to the Assembly Budget Committee on Tuesday, and the Treasury Department will follow up later in… Read the rest of this entry »
TRENTON — New Jersey is more than $10 billion short on what it would cost to fully fund schools, pensions, transportation projects, Medicaid and other programs, according to an estimate prepared by the state’s nonpartisan Office of Legislative Services and obtained by NJ Advance Media. The newly estimated structural deficit, first reported by NJ Spotlight, has… Read the rest of this entry »
TRENTON — New Jersey lawmakers warned of potential “draconian” budget cuts to come up with $1.57 billion if the state is forced to make a full pension payment this year. A state Superior Court judge ruled today that unions are entitled to that payment as part of a 2011 pension overhaul law passed by the Democratic-led… Read the rest of this entry »
Opinion: Christie’s Available Options Have Gone From Bad to Worse (via NJSpotlight)
Being governor is all about having options, settling on a course of action, marshaling legislative and public support, and then implementing it smoothly and effectively. From time to time, though, issues arise for which none of the available options…
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…
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…
© Copyright 2024 | MoreMonmouthMusings | All Rights Reserved