Tags: revenue | christie | budget | surplus

NJ's Christie Slams New Tax Revenue Estimates

By Sandy Fitzgerald   |   Tuesday, 11 Sep 2012 11:22 AM

New Jersey Gov. Chris Christie is dismissing new tax revenue numbers touted by  Democrats who oppose his tax cut plans, saying they’re politically motivated.
 
The state’s Office of Legislative Services, in a memo to legislators, said revenue collections are about $253.9 million short of Christie’s projections, according to the Philadelphia Inquirer.
 
Democrats say the lower numbers could impact this year’s budget, as well as a surplus the Republican governor had hoped to set aside for a tax cut.
 
However, Christie, who claims the nonpartisan legislative services is just a "handmaiden” of the state legislature’s Democratic majority, said a memo from the office last month estimated the projections could be off as much as $542 million, or twice as much as the new figures.
 
Christie said all five of the state's revenue sources have yet to be tallied and that final numbers won’t be known until the end of the year.
 
But Democrats weren't buying into Christie's interpretation of the numbers.
 
“Unfortunately, we have yet to see any signs of such a so-called ‘comeback,’ despite the constant spin that budget shortfalls have been tackled,” said Democratic Assemblyman Vincent Prieto, who chairs the budget committee.

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