Governor Christie brushes aside reports that say state revenues aren’t close to his buoyant economic projections because New Jersey’s constitution gives the governor alone the power to say how much to expect in taxes.
With a certitude bordering on bravado, Christie says he’s sticking with his forecasts — economic growth estimates significantly higher than nearly all other states and historically high for New Jersey. He’s pushing his call for income tax cuts, and banking on a rebounding economy to pay for an additional $2 billion in state spending and those tax breaks.
“A budget is a matter of measuring risk — risk you’re willing to take on the revenue, risk you’re willing to take on the spending side,” NJPP’s David Rousseau tells the Record. “The higher your surplus the more risk you can take. Or the lower your surplus, you should be more conservative on your numbers.”
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