NJ lawmakers to get update on budget, projections

(AP) - The state Senate's Budget Committee is getting an update on New Jersey's revenue collections.The Office of Legislative Services and the Treasury Department will

TRENTON - (AP) - The state Senate's Budget Committee is getting an update on New Jersey's revenue collections.

The Office of Legislative Services and the Treasury Department will each present their budget overview and revenue forecasts to the panel in hearings scheduled for Tuesday. The snapshot comes before April tax collections, but will still give lawmakers a better idea of whether the current-year state budget is on target.

Gov. Chris Christie has proposed a $32.1 billion budget for the fiscal year that starts July 1. That spending plan is based on revenue growth of 7.3 percent.

Christie's budget contains the first phase of his proposed 10 percent income tax reduction, though Democrats have offered alternate tax-relief plans.

The budget and tax plan must be approved by the Legislature.

advertisement | advertise on News 12

Trending Video

VIDEO: News conference on arrest in murder of 1 VIDEO: News conference on arrest in murder of Sarah Butler
Republican Steve Rogers announces he will run for 2 Republican Steve Rogers announces gubernatorial run
3 VIDEO: Jersey City Pearl Harbor remembrance ceremony
Dozens of fellow officers show up to support 4 Dozens show up to support fired Wayne police officer
Khalil Wheeler-Weaver, 20, was charged with the murder 5 Arrest made in murder of college student found in W. Orange

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE