New Jersey revenue expected to grow by $1 billion next year

    New Jersey is expected to bring in more revenue than was expected this year, according to numbers from the Office of Legislative Services.

    In better news, revenue growth next year could exceed $1 billion.

     

    The nonpartisan OLS says the extra revenue comes from strong income and sales tax revenues, NJ.com reports.  Next year’s growth should cover federal stimulus losses and tax cuts.

    But David Rosen, OLS legislative budget and finance officer says the federal government could end up making cuts to programs that bring money to the state.

    WHYY’s Phil Gregory will have more on the budget later.

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