N.J. budget officer challenges Christie on revenues
The research arm of the New Jersey legislature thinks the Christie administration’s revenue projections for the next 15 months are too high.
The Office of the Legislature will release a report Tuesday that anticipates revenue growth at $537 million less than the figure Gov. Christie’s budget relies on.
The governor plans to use the money to fund increases to public schools, colleges and universities, and for the first phase of a 10 percent personal income tax cut.
The state Senate Budget Committee is getting updates on the state’s revenue forecast from two sources: OLS and the Treasury Department. The two may not agree.
Christie has proposed a $32.1 billion budget for the fiscal year that starts July 1.
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