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OLS Projects New Jersey Taxes Will Be $223M Short

Thursday, May 11, 2017   (0 Comments)
Posted by: Annie Snyder
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OLS Projects New Jersey Taxes Will Be $223M Short

 NJSPOTLIGHT | April 7, 2017

A booming stock market usually bodes well for New Jersey’s budget but, despite a recent Wall Street hot streak, there’s some growing concern about whether a new round of spending cuts will be needed before the state closes its fiscal year in a few months.  Gov. Chris Christie’s administration right now is holding firm to its latest revenue forecast for fiscal year 2017, but new projections released this week by the nonpartisan Office of Legislative Services suggest that tax collections could come up short by as much as $223 million when the fiscal year ends on June 30.

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