Christie Disputes Analyst's Budget Projections
By Phil Gregory, WBGO News
May 20, 2013
New Jersey state revenue is expected to miss the Christie adminstration's estimates. There’s a quite a difference on the amount of the shortfall.
Legislative budget officer David Rosen says revenues will be $937 million less than the administration projected through June of next year.
State Treasurer Andrew Eristoff is lowering projections by $165 million.
Governor Christie says Rosen has it wrong.
"Dr. Rosen's projections of $900 million are either the results of him not knowing what he's doing or they're pure politics, one or the other, and either one won't affect the people of New Jersey because I won't let it."
Christie says energy tax revenue is less than expected, and there are two reasons for that.
"One is Sandy related clearly from people not having power for a long period of time so they paid less in the energy sales taxes. The other is because we're seeing a natural gas renaissance in the country because of shale gas that's bringing the price level down."
Rosen says delays in the start of online gambling will result in less revenue than anticipated.
If Rosen's projections are accurate, significant changes would be needed in the budget plan.