N.J. Tax Receipts Missed Christie Target by $288 Million - Bloomberg

N.J. Tax Receipts Missed Christie Target by $288 Million - Bloomberg

Christie, who is seeking a second term in November’s state election, battled with David Rosen, a budget analyst with the nonpartisan Office of Legislative Services, after Rosen warned lawmakers that 2012 revenue was short of plan by $250 million.
Receipts came to almost $29.1 billion for the 12 months that ended June 30, while the budget Christie signed in 2011 called for $29.4 billion, according to the state’s Comprehensive Annual Financial Report posted yesterday and budget documents. Rosen’s warning in September led lawmakers to block funding for a tax-cut proposal from Christie, who is 50 years old.
“We had the right message: Let’s wait and see,” Assemblyman Vincent Prieto, a Democrat from Secaucus who leads the chamber’s budget panel, said in an interview. Lawmakers had set aside $183 million to cover the governor’s tax-relief program and have refused to release the money.