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Budget

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

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
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
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
Fine Print: Looking for a Legal Way to Get Around the 2% Property-Tax Cap
John Reitmeyer | July 17, 2015 | Budget
A proposal under consideration in the Legislature would permit towns to surpass the cap -- if doing so lets them qualify for matching-fund grants
Christie to Public-Employee Unions: No Contracts, No Step Increases in Salaries
John Reitmeyer | July 14, 2015 | Budget
The administration takes a tough stand on step increases, but unions argue that incremental pay is typically paid without a signed and sealed contract
Bipartisan Bill Seeks More Transparency for State's Tax-Incentive Programs
John Reitmeyer | July 13, 2015 | Budget
Assemblyman Singleton wants regular reviews detailing the effectiveness of tax breaks to be posted online
Increase in ‘Senior Freeze’ Earnings Cap Put on Ice Once Again by Christie, Lawmakers
John Reitmeyer | July 9, 2015 | Budget
Governor, Democratic Legislature keep income limit at $70,000 in program that limits property taxes for retirement-age and disabled homeowners
New Jersey’s Economy Is in the Tank, Maintains Conservative Think Tank
John Reitmeyer | July 8, 2015 | Budget
Finishing next to last among 50 states for fiscal solvency, NJ gets dinged for chronically underfunded pension system, how well state can cover long-term liabilities
Gauging Response to Governor’s Hike in Tax Credit for Working Poor
John Reitmeyer | July 8, 2015 | Budget
Christie delivers on promise to boost Earned Income Tax Credit, putting about $200 more in pocket of average working family
Patient-Centered Health Plan for State Employees Wins Panel’s Approval
John Reitmeyer | July 7, 2015 | Budget
Pilot program backed by state Senate president billed as way to cut benefits spending while improving quality of care
Treasury Loses Slew of Longtime Administrators, Aides – and Valued Expertise
John Reitmeyer | July 6, 2015 | Budget
Retirements and job moves add up to loss of decades of experience in state budget matters
Bill Limiting Sales Tax on Expensive Boats Still in Dry Dock on Christie’s Desk
John Reitmeyer | July 2, 2015 | Budget
Cap of $20,000 is billed as way to help New Jersey’s boating and marina industry compete with neighboring states
Dems OK Boost in Low-Income Tax Credit But Won’t Budge on Pension Payment
John Reitmeyer | June 30, 2015 | Budget
Resolution passed by Assembly and Senate pressures Christie to make contribution of $1.3B immediately instead of waiting until end of state’s fiscal year
Winners and Losers: Looking Beyond the Numbers in Christie’s $34B Budget
John Reitmeyer | June 29, 2015 | Budget
Millionaires and corporations gain, while homeowners and local schools take a hit. But the biggest setback may be to New Jersey’s future generations
Tax-Credit Hike Helps NJ's Working Poor -- and May Also Help Candidate Christie
John Reitmeyer | June 29, 2015 | Budget
Governor’s conditional veto could put $120M in pockets of low-wage earners, and make Democrats' signature issue his own
Budget Business as Usual: Christie Line-Item Vetoes $1.6B from Dems' Plan
John Reitmeyer | June 27, 2015 | Budget, Politics
Governor volunteers one giveback, no-strings-attached offer to raise Earned Income Tax Credit to 30 percent, helping NJ’s lowest-paid workers
Budget Goes to Gov. Christie, Who Warns He’ll Be Watching ‘All the Spending’
John Reitmeyer | June 26, 2015 | Budget
Extensive line-item vetoes expected, but the real surprise may be what the Dems didn’t include: fully funded school aid and relief for depleted Transportation Trust Fund
Reaction to Dems’ Proposal Hints at Possible Area of Compromise on Pensions
John Reitmeyer | June 25, 2015 | Budget
Some GOP lawmakers react favorably to idea of making quarterly payments as show of ‘good faith’ and to take advantage of investment returns
Dems’ Budget Bills Move Forward, Setting Stage for Clash with GOP, Christie
John Reitmeyer | June 24, 2015 | Budget
Tax hikes for wealthy and corporations, increased pension funding are likely to win approval – then head to Christie’s desk for probable veto
Democratic Budget Plan Likely to Raise Christie’s Ire -- and Veto Pen
John Reitmeyer | June 23, 2015 | Budget
Sweeney and Dems build a budget that boosts funding for pension payments and adds money for education and family planning
Lesniak Touts Legislation As Way to Add Money to Budget Without Raising Taxes
John Reitmeyer | June 22, 2015 | Budget
By closing loopholes that let multinational companies shift profits to other countries, Democratic lawmaker says he can find at least $250M for strapped state
New Report Raises Doubts About Cost of Shifting Teacher Pensions
John Reitmeyer | June 18, 2015 | Budget
Rutgers study questions Christie administration claim that having local school districts assume responsibility would be ‘cost-neutral’
Longtime Director of State Budget Office Stepping Down After 16 Years in Post
John Reitmeyer | June 17, 2015 | Budget
Head of Treasury Department’s Office of Management and Budget served in post under six different governors
Explainer: How Do State Budgets Manage to Avoid Spending Required By Law?
John Reitmeyer | June 16, 2015 | Budget, Explainer
Two provisions of NJ constitution provide loopholes that allow – and actually ‘require’ -- lawmakers to circumvent mandates
State’s Tax Revenue Still Lags Behind Pre-Recession Levels by 10 Percent
John Reitmeyer | June 15, 2015 | Budget
New data from Pew Charitable Trust helps plot NJ’s slow recovery, fuels arguments about raising some taxes or slicing business taxes further
Amid Shouts and Protests, Legislators Quietly Work Out Their Budget Plans
John Reitmeyer | June 12, 2015 | Budget, Education
NJEA and teachers make a loud showing in Trenton, demanding that state fully fund their pensions and benefits -- despite Supreme Court ruling letting Christie off hook
NJ Ranks in Bottom Five for Growth in State GDP, Say New Federal Figures
John Reitmeyer | June 11, 2015 | Budget
With a 0.4 percent bump in gross domestic product, New Jersey is growing more slowly than neighboring states
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