24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

New Jersey Revenue $254 Million Less Than Forecast

New Jersey's revenue collections came in $254 million below estimates in fiscal 2012, the state's nonpartisan Office of Legislative Services told lawmakers on Mon day.

Total revenue grew 2.9 percent to nearly $25.4 billion during the fiscal year that ended June 30.

"The shortfall means this year's budget starts with $254 million less than anticipated, requiring even higher growth than was already assumed by (Governor Chris Christie) to meet his targets for this fiscal year," New Jersey Assembly Budget Chairman Vincent Prieto, a Democrat, said in a statement.

Source: Reuters. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.