New Jersey Governor Chris Christie needs revenue to rise 8.2 percent to balance his fiscal 2013 budget to make up for a tax shortfall in the year ended June 30, the legislature’s chief budget officer said.
New Jersey’s revenue collections may trail Governor Chris Christie’s estimates by a combined $537 million this fiscal year and next as taxes on income and casinos fall short, the Legislature’s chief budget analyst said.
New Jersey’s revenue may fall below Governor Chris Christie’s projections by as much as $1.3 billion through June 2013, the Legislature’s chief budget analyst said, prompting the state's chief executive to ask, “Why would anyone with a functioning brain believe this guy?"
New Jersey revenue may miss Governor Chris Christie’s targets by as much as $937 million over the next 13 months as collections from online gambling and energy taxes fall short, the legislature’s chief fiscal analyst said.
In a May 23 speech to constituents, New Jersey Governor Chris Christie addressed the testimony of non-partisan budget analyst, David Rosen, to the state's legislature. Rosen reported that the governor’s budget overestimates revenue collections through June 2013. (Source: Bloomberg)