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Budget

Depleted Transportation Trust Fund Creates Fiscal Crisis for Municipalities

John Reitmeyer | February 4, 2016 | Budget, Politics, Transportation

While lawmakers and administration bicker, mayors don't know how much to budget for road maintenance -- or where the money will come from

Slight Hike in Tax Revenue Adds Up to Projected Surplus for State Coffers

John Reitmeyer | February 3, 2016 | Budget
But slight budget cushion forecast for first six months of fiscal year may not be enough to justify dropping state’s estate tax
Democrats Look to Close Corporate-Tax Loophole Used to Shield Profits
John Reitmeyer | January 29, 2016 | Budget
Combined reporting requirement would prevent big firms from shifting income to states with lower tax rates
NJ Pension Officials, Citing Better Returns, Defend Alternative Investments
John Reitmeyer | January 28, 2016 | Budget
But they agree to address concerns about millions in fees paid to private fund managers
Moody’s Again Warns Investors to Be Wary of Uncertain Finances in NJ
John Reitmeyer | January 26, 2016 | Budget
Credit-rating agency cites uncertain outlook for employee pension payments, transportation fund
Without a 'Rainy Day Fund,' New Jersey Could Be Hurt By Another Big Recession
John Reitmeyer | January 7, 2016 | Budget, Politics
Conservative think tank faults state's ‘recession readiness’ just as lawmakers start to make plans for new tax cuts, investments, borrowing
Prieto, Sweeney Split Over Revenue Sources for Transportation Trust Fund
John Reitmeyer | January 6, 2016 | Budget, Politics, Transportation
Democratic leaders disagree over how much money should come from borrowing, how much from 'pay-go' sources like higher taxes at the pump
Acting Treasurer’s Final Approval Still Pending While State Budget Battle Looms
John Reitmeyer | January 5, 2016 | Budget, Politics
Assailed by Sweeney for inexperience and ties to key figure in ‘Reaganomics,’ Christie nominee may have trouble winning confirmation
Senate President Revamps Payment Plan for Closing Deficit in Pension Fund
John Reitmeyer | December 18, 2015 | Budget, Politics
Sweeney’s tweak of proposed constitutional amendment may make plan more viable politically, but GOP leaders say it would just result in higher taxes
GOP Lawmaker Proposes Alternate Way to Replenish Transportation Fund
John Reitmeyer | December 15, 2015 | Budget, Politics, Transportation
But key component – 3 percent annual hike in state’s revenues -- is uncertain, based on past decade’s average growth of under 1 percent
Trio of Proposed Ballot Questions Could Reshape NJ’s Financial Future
John Reitmeyer | December 14, 2015 | Budget, Politics
Constitutional amendments in committee would beef up Transportation Trust Fund, make required payments to state-employee pensions, and extend gambling across NJ
Sweeney Seeks Constitutional Amendment to Fund State Pensions
John Reitmeyer | December 10, 2015 | Budget, Politics
Christie, others deride ballot question, arguing that if passed it will lead to higher taxes, drastic cuts to other programs
Bill Lowering Sales Tax on Boat Purchases Awaits Governor’s Signature
John Reitmeyer | December 8, 2015 | Budget, More Issues, Transportation
While supporters contend lower rates in other states have hurt state’s boat industry, foes argue tax break benefits only the wealthy
Democrats Push to Make More Retirement Income Exempt from State Taxes
John Reitmeyer | December 7, 2015 | Budget, More Issues, Politics
Higher thresholds in neighboring states said to spur many older residents to leave New Jersey
State Tax Revenue Exceeds Projections, but Treasury Keeps Information to Itself
John Reitmeyer | November 17, 2015 | Budget
NJ Spotlight submits OPRA request to get administration to release dollar-to-dollar comparisons that it refuses to publish on its website
State’s Property Tax Relief Program Operates According to Its Own Calendar
John Reitmeyer | November 4, 2015 | Budget
Due to Christie administration’s budget juggling, credits scheduled to be applied to tax bills in May 2016 are for taxes homeowners paid way back in 2013
Senate Democrats Call for More Spending in Key Areas to Stoke NJ Economy
John Reitmeyer | October 20, 2015 | Budget, Politics
Christie, Republicans suggest announcement of 'Investing In You' initiative is nothing more than a plan to increase taxes
State’s Tax Revenues for First Quarter Offer Reason for Cautious Optimism
John Reitmeyer | October 19, 2015 | Budget
Five percent hike bodes well for budget, but quirk in calendar, change in reporting method may skew numbers
Survey Faults NJ, Other States for Lack of Long-Term Budget Planning
John Reitmeyer | October 16, 2015 | Budget
Budgetary best practices, according to think tank, mean making multiyear projections for both anticipated tax revenues and spending
Transportation Funding Debate Revolves Around Economic Impact of Tax Cuts
John Reitmeyer | October 13, 2015 | Budget
Democrats argue infrastructure upgrades are key to fiscal growth; Republicans contend dropping ‘death taxes’ will encourage wealthy to stay in NJ and invest in state’s growth
Superior Court Scuttles Hopes of Pension Trustees for Legal Settlement
John Reitmeyer | October 9, 2015 | Budget
Judge rules that state Supreme Court decision in related case applies to this legal action as well; plaintiffs could still appeal to NJ’s highest court
Would Lowering Tax on Boat Sales in NJ Turn Tide for Struggling Industry?
John Reitmeyer | October 2, 2015 | Budget, Politics, Transportation
Critics say it would mostly benefit the affluent while advocates say it would boost marinas, repair shops and other maritime-related businesses
Lower Returns on State’s Pension Investments Raise Questions, Concerns
John Reitmeyer | September 24, 2015 | Budget
Officials say 4 percent gain is still better than most similar plans, but state workers worry about impact on severely underfunded system
Tax Burden, Transportation Infrastructure Top List of Economic Concerns
John Reitmeyer | September 17, 2015 | Budget
State’s business leaders gather in Atlantic City to address problems still hindering growth
New Jersey’s Fiscal Failings -- Along with Other States’ -- Made Clear in New Report
John Reitmeyer | September 15, 2015 | Budget
At its worst, NJ only had enough budget reserve to last three days, although some slight gains have been made in past fiscal year
Taxpayers Beware! New Jersey’s Debt for Employee Benefits Nears $200 Billion
Mark Lagerkvist | New Jersey Watchdog | September 15, 2015 | Budget
Does making good on the pension and health benefits unfunded liability mean that state taxes will skyrocket?
Christie Administration Stands Firm on Less-Detailed Tax-Revenue Reports
John Reitmeyer | September 14, 2015 | Budget
Critics says lawmakers aren’t getting info they need to accurately track state’s budget outlook
Public-Worker Unions Want U.S. Supreme Court to Rule on NJ Pension Problems
John Reitmeyer | September 9, 2015 | Budget
Unions look to take their grievance to the top, but with a steady stream of petitions filed each year, the chance of getting a hearing is slim
Fine Print: Bill Would Prohibit NJ Stake in Firms that Boycott Israel
John Reitmeyer | September 4, 2015 | Budget
Legislation call for ban on investment of pension fund assets in companies linked to pro-Palestinian movement
Christie Administration Seeks Financial Advisor for State Transportation Projects
John Reitmeyer | September 3, 2015 | Budget, Transportation
Position comes with three-year contract, but it’s not clear what money will be left to manage if Transportation Trust Fund goes broke at end of next fiscal year
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