Chris Christie is at risk of matching the record of six New Jersey bond downgrades under former Democratic Governor James McGreevey as ratings companies pan the second-term Republican’s revenue forecasts.
New Jersey Democrats, who control the legislature, reached agreement with Republican Governor Chris Christie on a spending plan for the fiscal year that begins July 1, Senate Budget Committee Chairman Paul Sarlo said.
Governor Chris Christie called a New Jersey Senate Democrat an “arrogant S.O.B.” over the failure to guarantee a tax cut in the Legislature’s $31.7 billion spending plan, without saying whether he’ll veto it.
Democratic lawmakers in New Jersey say Republican Governor Chris Christie has turned to financial gimmickry in a deal that pledged national tobacco-settlement revenue to investors in exchange for almost $92 million.
New Jersey property tax bills, the highest in the U.S., may rise an average of $600 to make up for Governor Chris Christie’s proposed cuts in school and municipal aid, the state Senate budget committee chairman said.
New Jersey’s revenue fell about $807 million short of Governor Chris Christie’s projections, a development that may force him to make cuts in the state budget with just eight weeks left in the fiscal year.