Christie’s N.J. Tax Cut Threatened by Sandy Revenue Loss (Bloomberg News)

November 12, 2012 – New Jersey Governor Chris Christie said he isn’t sure whether he’ll still pursue a tax cut that was the centerpiece of his economic strategy because Hurricane Sandy may have hurt state revenue in October and November. Collections may pick up in the months ahead as New Jersey residents replenish supplies to rebuild, Christie, 50, told reporters today in Lincroft. He said he will decide whether to push for lower taxes after seeing the latest revenue figures. “In the short term, these past two weeks, I’m sure we’ve experienced the diminution of revenue,” Christie said. “The question is what will the revenue picture be.” Collections for the first three months of the fiscal year that began July 1 missed Christie’s forecast by 4 percent, putting revenue about $175 million short of his targets.

Link to Full Article: http://www.bloomberg.com/news/2012-11-12/christie-s-n-j-tax-cut-threatened-by-sandy-revenue-loss.html

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