Christie signs N.J. budget, but not without changes

    Gov. Chris Christie took a veto pen to the state budget Friday, slashing $361 million from the spending plan Democrats sent him before signing it into law.

    Christie waited till the 11th hour to act — a balanced budget needs to be in place by 12:01 a.m. Sunday, the start of the new fiscal year.

    Among the vetoes was a tax credit increase for the working poor.

    The Republican governor’s $32 billion budget relies on revenue projections that Democrats insist are overly optimistic.

    The main partisan dispute in the budget has been over a tax cut.

    Christie wants a commitment to fund the first installment of a 10 percent cut.

    Legislators set aside $183 million for the cut but won’t implement it until it’s clear state revenues support it.

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