Budgetary pain is at hand for N.J. legislators (Philadelphia Inquirer)

January 2, 2013 – The Senate Budget and Appropriations Committee is to meet Thursday to discuss lagging revenues and the possibility of midyear budget cuts. (It was the only panel on the post-holiday legislative schedule as of Monday.) With Gov. Christie and all 120 legislators up for reelection next November, the $31.7 billion budget for the current fiscal year, which ends June 30, is expected to become a political hot potato. The budget looked wobbly before Hurricane Sandy hit: Revenue projections were already trailing by $264 million. After the storm tore up the Shore in late October, November’s tax collections came in 11 percent short, nearly doubling the budget deficit to $451 million, according to recent reports from the Treasury.

Link to Full Article: http://www.philly.com/philly/news/politics/20130102_Budgetary_pain_is_at_hand_for_N_J__legislators.html

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