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Budget

Christie Grappling With Bond Downgrades, Budget Shortfalls, Casino Closures

Mark J. Magyar | September 11, 2014 | Budget, Politics

NJ’s fiscal woes mount as S&P cuts credit rating, Treasury admits budget shortfall and Trump Taj Mahal becomes fifth casino to face closure

Judge Rules That Christie Can Withhold $900M Payment Into Pension Funds

Hank Kalet | June 26, 2014 | Budget
Superior Court magistrate declines to issue injunction sought by public employees union, citing 'staggering budget shortfall'
Explainer: Why NJ's Unfunded Liability for Retirees Is $90 Billion and Rising
Mark J. Magyar | August 12, 2014 | Budget, Politics, Explainer
Funding gap grows because NJ continues to underfund pensions and covers retiree healthcare costs on pay-as-you-go basis
Christie Cites ‘Cadillac Tax’ In Push To Cut Public Employee Benefits
Mark J. Magyar | July 30, 2014 | Budget, Politics
Governor: Obamacare tax would cost New Jersey $261 million in 2018 and $837 million by 2022 if health insurance costs aren’t cut
Time Runs Out for Christie Plan for Lengthier School Days, Longer School Years
John Mooney | July 25, 2014 | Budget, Education, Politics
Administration's $5 million innovation fund one of the casualties of budget process
Christie Uses Vetoes To Drive Political Message For 2016 Campaign
Mark J. Magyar | July 1, 2014 | Budget, Politics
With Democrats powerless to override governor's vetoes, only courts can order state to make required pension payments
Analysis: Will Governor Christie's House of Cards Collapse?
Mark J. Magyar | June 30, 2014 | Budget, Politics
Governor banks on larger-than-life celebrity, but expanding investigations, mounting fiscal problems could undercut presidential hopes
After Christie Vetoes, Pension Battle Heads Back To Court
Mark J. Magyar | June 27, 2014 | Budget
Democratic-controlled Legislature’s passage of budget with tax hikes on millionaires and corporations is preordained exercise in futility
School-Reform Legislation, Education Aid Among Items on Year-End Agenda
John Mooney | June 26, 2014 | Budget, Education
Last-minute votes could delay Common Core-related tests, reconfigure impact on teacher evaluations
Poll: How Much of the Democrats’ Doomed Budget Do You Buy?
June 26, 2014 | Budget, Politics, Polling
From a fully funded pension to the millionaire's tax, do the Democrats have anything real to offer New Jersey?
Prieto Wins Argument On Limiting State Income-Tax Hike To Millionaires
Mark J. Magyar | June 24, 2014 | Budget, Politics
Democratic budget kills tax increases on e-cigarettes, Urban Enterprise Zone businesses
Analysis: Democratic Tax Plan is Just a Down Payment on NJ’s Fiscal Needs
Mark J. Magyar | June 23, 2014 | Budget, Politics
Christie’s veto of tax increases would leave insurmountable $4.3 billion pension gap to be made up by FY18
Democratic Lawmakers Sending Christie Another Tax Package To Veto
Mark J. Magyar | June 20, 2014 | Budget, Politics
Prieto endorses millionaire’s tax, corporate tax surcharge, and full pension funding as part of alternative Democratic budget
Sweeney Pushes Tax Hikes On Millionaires, Corporations To Fund Pensions
Mark J. Magyar | June 19, 2014 | Budget, Politics
Unilateral move by Senate leadership highlights split with Assembly Democrats, failure of talks with governor on negotiated budget
Analysis: Retiree Health Benefits Easier To Cut Than Pensions
Mark J. Magyar | June 5, 2014 | Budget, Politics
While unions prepare lawsuits over $2.4 billion pension cuts, Christie has precedent to target free healthcare for retirees next
NJ Digs Deeper Hole By Paying Just $2.4B of $8.8B Retiree Costs
Mark J. Magyar | May 29, 2014 | Budget, Politics
While Christie’s pension cuts make headlines, retiree health benefits make up lion’s share of state’s $90 billion unfunded liability
Analysis: Christie Administration Eyes Shift to ‘Hybrid’ Pension System
Mark J. Magyar | May 27, 2014 | Budget
Treasurer cites Rhode Island’s unique defined-benefit/defined-contribution pension plan as ‘interesting model’
Explainer: The Debate Over Defined-Benefit vs. Defined-Contribution Pensions
Mark J. Magyar | May 27, 2014 | Budget, Explainer
Both approaches have gotten a lot of press of late, here's a way to cut through the doubletalk
Sweeney, Prieto Vow Fight For Millionaire’s Tax, Pension Funding
Mark J. Magyar | May 23, 2014 | Budget
Democrats argue wealthy should pay higher taxes, but Christie threatens to veto any income tax hike
Democrats Fear Rebate Delay May Put Payments on Chopping Block for 2015
Mark J. Magyar | May 22, 2014 | Budget, Politics
With elimination of 2014 rebate, homeowners and seniors will receive average of just $1,188 in Christie's first five years, compared to $4,247 under Corzine and Codey
Christie’s $2.4 Billion Cut Triggers Battle Over Future of NJ Pension System
Mark J. Magyar | May 21, 2014 | Budget
Unfunded pension liability would skyrocket as governor ignores 2011 pension funding law, NJEA threatens lawsuit
Explainer: Why NJ’s Bond Rating Was Downgraded, and Why It Matters
Mark J. Magyar | May 20, 2014 | Budget, Explainer
Higher interest rates resulting from shaky credit status means it will cost more for the state to borrow money
The Politics of Closing the Budget Gap: Everything is NOT on the Table
Mark J. Magyar | May 19, 2014 | Budget, Politics
With Christie ruling out millionaire’s tax, real battle looms over pensions, ‘one shot’ gimmicks, and spending cuts
Strike 3! Moody’s Joins S&P, Fitch In Downgrading NJ Debt
Mark J. Magyar | May 14, 2014 | Budget
Bond-rating agency cites recurring revenue shortfalls, lagging economy, pension burden, and overreliance on ‘one-shot’ revenues
Analysis: $74 Billion In Future Pension Payments At Stake in Lawsuit
Mark J. Magyar | May 12, 2014 | Budget
Appellate Division ruling in COLA case also could set precedent on state’s obligation to make pension payments
Analysis: Tax Amnesty Eyed As Part Of $1.4 Billion Budget Solution
Mark J. Magyar | May 5, 2014 | Budget, More Issues
Christie’s budget options to plug combined FY14-FY15 gap include pension changes, aid shifts and fund raids
Moody’s Expects New Jersey To Use ‘One-Shots’ To Fill Shortfall
Mark J. Magyar | April 30, 2014 | Budget, Politics
Christie: ‘Nothing off the table’ to fill $800M budget gap, and that includes pensions
Analysis: $800 Million Budget Gap Leaves Christie With Few Choices
Mark J. Magyar | April 29, 2014 | Budget, Politics
Will Christie have to cut or defer pension payments to cover shortfall created by ‘April surprise’?
Analysis: New Jersey Faces Four-Year Fiscal Crisis
Mark J. Magyar | April 28, 2014 | Budget, Politics
A $4.6B increase in retiree and debt-service costs, a Transportation Trust Fund running on empty, a governor who wants to cut taxes -- and the bond agencies are watching
Christie, Speaking at Town Hall Meeting, Calls for End of Realty Transfer Fee
Tom Johnson | April 17, 2014 | Budget, Energy & Environment, Politics
Getting rid of tax would leave state shy of matching funds for Shore-protection projects -- and would also leave another hole in the state budget
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