March 7th, 2014 by David Rousseau | No Comments
When the governor delivered his proposed budget for the fiscal year that begins on July 1 (FY 2015), he also released updated information on this year’s budget, most importantly acknowledging that the state is facing a nearly $800 million shortfall.
March 7th, 2014 by Gordon MacInnes | No Comments
“Exodus on the Parkway,” a new 36-page paper on the impact of tax rates on New Jersey’s economic health begins by noting that it “does not provide proof or hard evidence that high income or high net worth residents are leaving New Jersey because of high tax rates.”
March 6th, 2014 by David Rousseau | No Comments
The governor put New Jersey’s pension obligations front and center in his budget address, sounding the alarm about a “crisis” that the pension (and health benefit and debt) payments are creating for the state’s fiscal health. But close budget observers may have noticed an odd tidbit: the proposed budget includes only $2.25 billion in pension payments, not the $2.4 billion announced earlier. An obscure new report may explain why.
March 6th, 2014 by Raymond J Castro | No Comments
There’s certainly some good news in the governor’s budget when it comes to Medicaid, but it unfortunately does not address a major problem that could be avoided.
March 5th, 2014 by Jon Whiten | No Comments
President Obama’s budget includes several important improvements to the pro-work Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) that would impact more than 750,000 low-wage New Jersey workers. The tax-credit changes would reduce poverty among low-wage workers and their families, reduce income inequality, strengthen work incentives and give a boost to New Jersey’s economy.
March 5th, 2014 by Raymond J Castro | No Comments
What does ‘success’ look like for the Affordable Care Act (ACA) in New Jersey? Today, New Jersey Policy Perspective, in cooperation with the Rutgers Center on State Health Policy quantified the answer to this question by announcing detailed goals for ACA enrollment, which are being supported by a grassroots campaign organized by the NJ for Health Care Coalition.
February 28th, 2014 by Mike Soszynski | No Comments
While the food stamp program – now known as the Supplemental Nutrition Assistance Program (SNAP) – is well-known to keep poor Americans from going hungry, less discussed is SNAP’s importance in lifting millions of people out of poverty each year.
February 28th, 2014 by Jon Whiten | No Comments
We’ve already detailed how Congress’ failure to renew emergency federal unemployment insurance at the end of last year could harm a quarter-million out-of-work New Jerseyans and tens of thousands of their children. Now we see just how much the inaction is costing New Jersey’s economy – and it’s staggering.
February 27th, 2014 by David Rousseau | No Comments
The proposed budget’s surplus of $313 million is one of the smallest ever in terms of real dollars, and at an all-time low for the second year in a row if the surplus is measured as a share of the overall budget.
February 27th, 2014 by Gordon MacInnes | No Comments
In the governor’s budget message this week, he rightly backed away from two reckless proposals that would have done even further damage to New Jersey’s economy, but he missed a clear opportunity to connect the major themes in his speech to a larger teachable moment about the state’s fiscal health.