Tax Vow May Trap Christie as NJ Revenue Short

From Bloomberg Businessweek, May 16, 2012:

Governor Chris Christie, a Republican who has spent the past four months promising New Jersey income-tax cuts, now confronts the challenge of selling his plan’s feasibility against a backdrop of continuing revenue shortfalls.

NJPP president Gordon MacInnes said this is no time to cut taxes.

“New Jersey already has the third-lowest credit rating in the country, greatly increasing our borrowing costs,” MacInnes said. “Our leaders should concentrate first on putting the state’s fiscal house in order, not on politically appealing, but reckless, proposals to cut taxes. This is exactly how we got into this mess.”