Comment on Revenue projections likely to be similar, lawmakers say

Revenue projections likely to be similar, lawmakers say

The projections, which Treasurer Andrew Sidamon-Eristoff and Office of Legislative Services director David Rosen will present to the Assembly Budget Committee on Monday, are important because they help determine how much money lawmakers and the governor can spend in the next fiscal year, which starts July 1. Divergent revenue projections also played a part in the governor's decision last year to cut payments to the state public pension system, which angered Democrats as well as many of the state's nearly 700,000 public sector pensioners. Democrats and Republicans aren't predicting a significant difference in revenue projections, but they're still at odds over how much to pay into the public pension fund and whether to increase taxes on gasoline to shore up the transportation trust fund. Christie has proposed a $1.3 billion pension payment and endorsed what he calls a "roadmap" for fixing the system, including freezing the fund, transferring management from the state to unions and seeking a constitutional amendment to fund it.

 

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