N.J. Revenue May Fall $937 Million Short, Analyst Says
By Terrence Dopp - May 20, 2013 12:57 PM ET
New Jersey revenue may miss Governor Chris Christie’s targets by as much as $937 million over the next 13 months as collections from online gambling and energy taxes fall short, the legislature’s chief fiscal analyst said.
Revenue from Internet wagers through fiscal 2014 may be $30 million, or $150 million less than Christie’s $180 million projection, David Rosen of the nonpartisan Office of Legislative Services told lawmakers today. Energy taxes will fall short by $348 million after Hurricane Sandy led to service disruptions and less consumption, he said.
Christie, a 50-year-old Republican seeking re-election in November, told reporters in Lavallette today that his administration will cut its forecast for energy taxes by about $150 million. Christie’s and Rosen’s latest budget projections differ by about $800 million, the governor said.
“I don’t know, candidly, whether he’s just lost it or whether he’s playing politics,” Christie said of Rosen. The analyst has been wrong in the past and may be “doubling down” on an incorrect prediction, the governor said.
Christie has been critical of Rosen, 66, and his forecasts, calling him a “handmaiden” for Democrats who control the Senate and Assembly. Last year, the governor called Rosen the “Dr. Kevorkian” of budget estimates, referring to the deceased pathologist who advocated assisted suicide.
more:
http://www.bloomberg.com/news/2013-05-20/n-j-revenue-may-fall-937-million-short-analyst-says.html
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