"Facing a wide budget gap in early 2010, the Christie administration"
...regrets those tax cuts for the rich?
Is he kidding? Gov. Chris Christie wants more tax cuts for the rich
A few days after saying New Jersey is so broke it must cut medical benefits for retirees and freeze their pensions forever, Gov. Chris Christie now says he wants to cut income taxes for the rich.
Think about those priorities. Middle-class families just lost their property tax rebates. Schools lost nearly $1 billion in funding, their biggest hit ever. Thousands of working poor families were closed out of health care programs. And our colleges and universities were whacked hard, forcing tuition hikes as the state scholarship programs run dry.
The governor said those cuts were necessary because the states vaults were empty. He was the guy telling us to live within our means, to face hard realities. And now this a tax cut that would blow a new hole in the budget.
The governor says cutting top tax rates will spur business investment. The truth is it would shower benefits on the wealthy indiscriminately. Yes, some of the money might be invested in New Jersey. But much more would be invested outside the state, and even outside the country. The only thing that would stay here for sure is the budget gap it would create.
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http://blog.nj.com/njv_editorial_page/2010/09/is_he_kidding_gov_chris_christ.html
N.J. revenue shortfall increases at least another $50M in May
By Salvador Rizzo/Statehouse Bureau
TRENTON Once again, the latest revenue numbers are pushing hard against Gov. Chris Christies claims of a "Jersey Comeback."
Tax collections failed to meet expectations in May, continuing a months-long trend that is cranking up the pressure on New Jerseys finances just as Christie and Democratic lawmakers are racing to strike a tax-cut deal by the end of this month.
Revenues were $50 million to $100 million under target last month, according to a memo sent to lawmakers by David Rosen, the budget chief of the nonpartisan Office of Legislative Services.
Meanwhile, the Christie administration said the shortfall was closer to $28.9 million in May and questioned Rosens credibility as a budget analyst.
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http://www.nj.com/news/index.ssf/2012/06/nj_revenue_shortfall_increases.html