NJPP budget and tax analyst David Rousseau was featured on NJTV’s NJ Today news program Friday night during a segment on the latest revenue reports released by the administration and the Office of Legislative Services (OLS), and what those numbers mean for the state budget.
While the administration says revenue collections through June are 6.6 percent more than in fiscal year 2012, OLS notes that growth is still less than the 7.2 percent growth rate needed to hit the administration’s revised year-end targets. As Rousseau notes, that dollar amount is not a lot but in the context of the budgets of last year and this year, it is important.
“Six-tenths of a percent on about $25 billion in revenue is equal to $150 million, which may not seem a lot, but it’s actually half of the surplus that they have going into for next budget,” Rousseau says.
For more details, check out Rousseau’s recent blog post on this issue.
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