On Budget, Gov. Christie Alters Course
From the Wall Street Journal, June 18, 2012 (subscription required):
As he seeks a historic income tax cut, Gov. Chris Christie has turned to an old New Jersey budget trick he had once forsworn — tapping government funds dedicated to other priorities for nearly $900 million in one-time sources of money.
The proposed use of dedicated revenues — a form of revenue often called a one-shot — has increased threefold since Mr. Christie’s first budget in 2010, and is nearly seven times as much as he put in last year’s spending plan, according to an administration analysis reviewed by The Wall Street Journal.
NJPP president Gordon MacInnes tells the Journal the administration is relying on budget gimmicks to push a politically motivated tax cut.
“They are in a hole,” he says. “The way they are getting out of the hole and pay[ing] for a tax cut is one-shots.”
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