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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
NJ Cited by Conservative Think Tank as Example of Meaningful Pension Reform
John Reitmeyer | September 2, 2015 | Budget
Report’s author credits willingness by Christie and Democrats to work together, but adds relationship is probably poisoned at this point
New Jersey Economy Still Short of What It Takes to Boost Bond Ratings
John Reitmeyer | August 31, 2015 | Budget
Unemployment is ticking down, tax revenue is on target, but sluggish economy and underfunded public-employee pension system still raise doubts -- not ratings -- on Wall St.
Candidate Christie Continues His Shift to the Right, Taking Anti-Tax Pledge
John Reitmeyer | August 13, 2015 | Budget, Politics
But Gov. Christie may soon face dilemma as gas-tax hike may be only way to replenish New Jersey’s shaky Transportation Trust Fund
Bramnick Believes Pension Reform Can Galvanize Voters to Favor GOP in November
John Reitmeyer | August 12, 2015 | Budget, Politics
Leader of Assembly Republicans frames public-employee pensions and health benefits as war between special interests and average taxpayers
Governor Vetoes Two Proposals to Inject Some Funds into Pension Plans
John Reitmeyer | August 11, 2015 | Budget
Democrats called using unexpected revenues for one-time cash infusion and making quarterly payments that could boost return on state’s investments
GOP Senator Sponsors Bill to Cut Tax Rate on New Jersey’s Biggest Earners
John Reitmeyer | August 6, 2015 | Budget
Pennacchio argues that lopping taxes by 1 percent would stimulate state’s economy, encourage companies to relocate here
Lower Amount Needed in Short-Term Loans May Bode Well for NJ Economy
John Reitmeyer | August 5, 2015 | Budget
But somewhat brighter fiscal outlook may put pressure on Christie to accelerate payments into pension fund
Public Bank Touted as Way to Raise Funds Without Burdening NJ Taxpayers
John Reitmeyer | August 3, 2015 | Budget
After state provides start-up capital, new financial institution would then provide low-interest loans for infrastructure, new schools and other projects
State’s Top Court to Turn Attention to Public-Worker Cost-of-Living Adjustments
John Reitmeyer | July 31, 2015 | Budget
If court rules COLAs can’t be suspended -- as 2011 law allows -- state could be out $70 billion in projected savings over next three decades
Man With a Plan: Sweeney Looks to Federal Loans to Pay Down Pension Debt
John Reitmeyer | July 30, 2015 | Budget
Senate president makes clear $50 billion in federal funds would be borrowed -- not a handout or bailout
Bill Would Let NJ Start-Ups, Entrepreneurs Seek Financial Backers Online
John Reitmeyer | July 29, 2015 | Budget
‘Crowdfunding’ to generate capital billed as one way to reinvigorate state’s sluggish economy
Pension Trustees Take New Tack, Ask Court to Require State to Pay ‘Unpaid Debt’
John Reitmeyer | July 28, 2015 | Budget
Filing doesn’t challenge recent NJ Supreme Court ruling that Christie could legally withhold payments to state workers’ retirement fund
NJ State Investment Council Confronts Downside of Diversification Strategy
John Reitmeyer | July 23, 2015 | Budget
At yesterday’s meeting, officials admit it’s tough to get free of unsavory investment; pension-fund officer calls for forensic audit of fees paid to hedge-fund managers
In Wake of Ruling, Search for Funds for Pension Bailout Grows More Urgent
John Reitmeyer | July 20, 2015 | Budget
Major players have plans, strategies of their own, making consensus unlikely in short term
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