By The Staff | The Save Jersey Blog
Revenue estimates for the State of New Jersey are down $840 million according to Assembly testimony presented by the state treasurer earlier Wednesday, Save Jerseyans
Slowing business tax credit payments and cutting charity care are among the proposed stop-gap measures.
Assemblyman Declan O’Scanlon, the Republican budget officer, was eager to point out that it could have been worse.
“New Jersey taxpayers should be very thankful Governor Christie rejected Democrat legislators’ outrageously irresponsible and unrealistic budget last year. Instead of having a $1 billion dollar problem, we would have a $2.7 billion budget problem with the Democrat’s fantasy-world spending, including a billion dollars in one-shot, non-recurring revenue, and $700 million in spending increases,” opined O’Scanlon.
State Senator Steven Oroho, also a Republican, was more direct in redirecting blame to the Democrat legislaive majority.
“New Jersey will continue to lose valuable resources at an ever increasing rate until we enact significant changes to state tax policy,” said Oroho in his own statement. “Valuable resources that can make up the revenue we need to fund our obligations. We don’t need to lure former residents back to New Jersey to strengthen the state’s fiscal situation, but we must stop chasing current residents away with significantly uncompetitive taxes.”