April revenue collections below projections

Gov. Chris Christie might have to go back to the drawing board when it comes to New Jersey's next budget.April revenue collections released today were

TRENTON - Gov. Chris Christie might have to go back to the drawing board when it comes to New Jersey's next budget.

April revenue collections released today were below Christie's projected growth of 4.8 percent.

A report issued today shows major tax revenues are growing at about half the rate necessary to reach that target.

Weak collections in April from gross income taxes and the corporation business tax were largely responsible for the shortfall.

Analysts say revenues are unlikely to grow enough in the remaining two months of the fiscal year to meet the targets.

Click here to read the full revenue collections report.

AP wire services contributed to this report.

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