May 8 (Bloomberg) -- New Jersey’s revenue may be as much as $1.1billion below Governor Chris Christie’s targets in his $34.4billion budget proposal for the fiscal year that starts July 1,Treasurer Andrew Sidamon-Eristoff told lawmakers today.
The treasurer said he’ll present adjustments to current statespending and next year’s plan in a revenue update on May 21. Thefixes may include both cuts and new revenue, he said, withoutproviding details.
Christie, a second-term Republican, proposed the largest budgetin state history in February to pay for rising costs of healthbenefits, pensions and debt. At the time, he forecast fiscal 2015revenue would rise 5.8 percent from a revised $32.6 billion for2014, a projection more optimistic than those of all but eight U.S.states.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
