TRENTON, N.J. (AP) — New Jersey has collected $451 million less in taxes and fees than it anticipated through November, jeopardizing Gov. Chris Christie’s tax cut proposal and increasing the likelihood of midyear budget cuts, a legislative budget analyst said Thursday.

The state’s major revenue streams are anemic five months into the fiscal year and the sales tax is particularly lethargic, accounting for $179 million of the shortfall, David Rosen told the Senate Budget Committee. If the essentially flat growth rate seen since July 1 continues through June, more than $2 billion in late-year budget cuts would be needed.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.