Governor Christie’s Announcement On Budget

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:

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Analysis: $74 Billion In Future Pension Payments At Stake in Lawsuit

Analysis: $74 Billion In Future Pension Payments At Stake in Lawsuit (via NJSpotlight)

While Gov. Chris Christie considers pushing off June’s pension payment to close an $807 million budget gap, a state appeals court is weighing a lawsuit challenging the elimination of cost-of-living increases for retirees that would not only add $74…

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NJ pension payment could be delayed by Christie, risking downgrades

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…

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Analysis: Tax Amnesty Eyed As Part Of $1.4 Billion Budget Solution

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…

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NJ debt downgraded for fifth time under Christie

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…

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Moody’s Expects New Jersey To Use ‘One-Shots’ To Fill Shortfall

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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NJ budget suffers another setback with $600M hole in April

NJ budget suffers another setback with $600M hole in April (via NJ.com)

TRENTON — New Jersey’s budget will take a big hit in April to the tune of $600 million, state officials announced today, warning that one of the best months for tax collections has been seriously behind Gov. Chris Christie’s expectations. The…

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S&P Turns Thumb Down On Christie Budgets, Downgrades Bond Rating

S&P Turns Thumb Down On Christie Budgets, Downgrades Bond Rating (via NJSpotlight)

In a sharp blow to New Jersey’s shaky budget structure, Standard & Poor’s yesterday downgraded New Jersey’s bond rating for the second time in Gov. Chris Christie’s tenure, driving up future borrowing costs and dropping New Jersey from a AA…

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NJ budget won’t get much help from state economy, expert warns

NJ budget won’t get much help from state economy, expert warns (via NJ.com)

TRENTON — New Jersey is in for another year of lackluster economic growth, and the new spending plan Gov. Chris Christie is proposing widens the shortfall in the state budget to $526 million by summer 2015, the state Legislature’s top financial…

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State Aid to New Jersey Municipalities Frozen for Third Consecutive Year

State Aid to New Jersey Municipalities Frozen for Third Consecutive Year (via NJSpotlight)

New Jersey municipalities would see no increase in state aid for the third year in a row under the $34.4 billion budget proposed last week by Gov. Chris Christie. While the $1.5 billion being distributed is better than the aid cuts municipalities had…

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