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Budget

Christie’s Proposed 10-Year Pension Payment Ramp-Up Could Cost NJ Billions

John Reitmeyer | May 26, 2015 | Budget

Governor’s own law gives him seven years to get pension payments in line, but he says he needs 10. What he’s not saying is how costs would balloon over time

Tax-Revenue Double Take: Too Much Money Going to Property-Tax Relief?

John Reitmeyer | May 21, 2015 | Budget
It seems impossible in a state with some of the highest property taxes in the country, but the way the money is divvied up could mean other programs are not getting their fair share
State Treasurer’s Paltry Revenue Projection Holds Out Little Hope for FY2016
John Reitmeyer | May 20, 2015 | Budget
If state’s top court finds for public workers in pension litigation, administration might have to cut into large programs like education, healthcare
Crunch Time for Tax-Revenue Numbers That Shape Budget for This Year, Next Year
John Reitmeyer | May 19, 2015 | Budget
If tax revenue comes in significantly over projections -- estimated at $200M -- administration could bump up public-worker pension payment
Local Governments May Be Steering Clear of Christie’s Pension-Reform Roadmap
John Reitmeyer | May 18, 2015 | Budget
Concern is that Republican changes could drive up property taxes, already highest in the nation
It Looks Like There's a Good ‘April Surprise’ in Store for Gov. Chris Christie
John Reitmeyer | May 14, 2015 | Budget
Treasury is projecting a $200M windfall tax revenue, which will be funneled right into the pending pension payment
Christie Vetoes Bill Seeking to Document Effectiveness of Corporate Tax Breaks
John Reitmeyer | May 12, 2015 | Budget, Politics
Governor rejects call for annual review of billions in tax incentives, prefers ‘more holistic’ approach to assessing whether program’s paying dividends
Superior Court Judge Delays Legal Arguments on FY2016 Public-Employee Pensions
John Reitmeyer | May 12, 2015 | Budget, Politics
Jacobson holds up proceedings until high court rules on FY2015 payments into public-workers benefits fund
Have Tax Incentives to Lure Companies to NJ Really Been Worth the Price?
John Reitmeyer | May 11, 2015 | Budget, Politics
It’s impossible to say, lawmakers assert, without legally-required annual report on whether billions handed out have really fueled job growth, helped state’s economy
Christie's Sagging Poll Numbers, Lagging Economy May Bode Well for Tax Plan
John Reitmeyer | May 8, 2015 | Budget, Politics
Political and financial realities could improve prospects for passage as Sweeney introduces ‘millionaire’s tax’
Supreme Court Hears Oral Arguments about Payments to Public-Worker Pensions
John Reitmeyer | May 7, 2015 | Budget
Justice Albin asks state attorney if administration’s approach to pension contributions is ‘some sort of bait and switch’
Clean-Energy Fund Diversions Already Built Into Christie’s Budget
Tom Johnson | May 7, 2015 | Budget, Energy & Environment
Critics argue that siphoning off funds makes it all-the-more difficult to attain state’s aggressive renewable-energy goals
Uptick in Tax Revenues Could Impact Court Fight Over Pension Payments
John Reitmeyer | May 6, 2015 | Budget
On eve of Supreme Court arguments, state announces tax collections may exceed projections by as much as $200M
Christie Rejects Bill Changing Fee-Reporting Rules for Pension System
John Reitmeyer | May 5, 2015 | Budget
Legislation also would have introduced more stringent requirements for campaign contributions
State Agency Attributes Delays in Tax Refunds to Anti-Identity Theft Initiative
John Reitmeyer | May 1, 2015 | Budget
Department of Treasury says it’s taking extra time processing returns to combat fraud, stolen refunds
Administration Still Defends Removal of Property-Tax Data from DCA Website
John Reitmeyer | April 30, 2015 | Budget
Missing information makes it impossible to accurately assess where net property-tax burdens have climbed as tax-relief program was curtailed
Sweeney Chides Christie Over Absences, Announces New 'Millionaire’s Tax’ Bill
John Reitmeyer | April 29, 2015 | Budget, Politics
Senate president says governor exaggerates supposed exodus from NJ by the wealthy and needs to stay home to address state’s problems
Christie Says He Still Holds Out Hope for Budget Deal with Democrats
John Reitmeyer | April 28, 2015 | Budget
But governor hints during monthly radio show that he would once again veto ‘millionaire’s tax’ to help deal with pension shortfall
GOP Seeks to Stoke State’s Sluggish Economy – Without Spending Any Money
John Reitmeyer | April 27, 2015 | Budget, Politics
Legislative package focuses on job-creation incentives and reduced regulation while Democrats still see need for higher tax on top earners
Christie Lashes Out at Dems for Filing Brief to Join Pension-Reform Litigation
John Reitmeyer | April 24, 2015 | Budget, Politics
Sweeney, Prieto petition state Supreme Court to be 'heard' on behalf of unions
Little Things Are Often What Really Count in State Budget Line Items
John Mooney | April 23, 2015 | Budget, Education
Language changes tucked into appropriations act drastically hike what some districts will have to pay toward charter school costs
NJ Spends More on Medicaid But Rate of Growth Ranks Among Nation’s Lowest
John Reitmeyer | April 23, 2015 | Budget, Healthcare
Increase of just 2 percent over FY 2000 credited to 2012 federal waiver and emphasis on managed care
NJEA Ditches Christie Pension Deal, Will Focus Instead on Looming Court Clash
John Reitmeyer | April 22, 2015 | Budget
Poll reveals that majority of NJ voters want governor to honor obligation to public employees even if it means higher taxes
Dems Blame Christie’s Broken Pension Promises for Latest Moody’s Downgrade
John Reitmeyer | April 20, 2015 | Budget
GOP counters that credit-rating slide is due to Legislature’s refusal to act on governor’s current budget proposal
State’s Labor Chief Suggests Employment Picture Looks Brighter in Perspective
John Reitmeyer | April 17, 2015 | Budget
While jobless rate rises again, he tells Senate panel that longer-term numbers are more encouraging than monthly snapshots
Fine Print: Revamping the Rules for Reporting Fees State Pays for Investments
John Reitmeyer | April 15, 2015 | Budget
Legislation calls for more openness in divulging details of how funds are handled, seeks to widen ban on ‘pay to play’ contributions
State Overpays $1.6 Million in Property-Tax Relief, Looks to Recoup Its Money
John Reitmeyer | April 10, 2015 | Budget
Inflated payments mostly tracked to homeowners who took full credit for multi-tenant properties
Annual Audit by Treasury Wraps Up Year of Battles Over State Budget
John Reitmeyer | April 10, 2015 | Budget
Report shows revenues from taxes increased by total of $500 million, reflecting some growth in NJ economy
Money Left Over Near End of Budget Year Can Add up to Serious Chunk of Change
John Reitmeyer | April 9, 2015 | Budget
Christie administration is culling so-called ‘lapses’ -- funds allocated to programs and departments that aren’t spent within the fiscal year
NJ Supreme Court to Take Up State Pension Dispute as Soon as Next Month
John Reitmeyer | April 7, 2015 | Budget
Administration and public-employee unions sidestep Appellate Division and move straight to top court
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