TRENTON, N.J. (AP) — New Jersey’s politically battered Gov. Chris Christie is set to deliver his annual budget address this week.
The Republican governor’s speech Tuesday comes as state tax revenues are expected to rise, although much of the anticipated increase could be offset by higher debt-service and pension-contribution obligations.
The current year-budget is about $33 billion. The budget figure for the next fiscal year, which starts July 1, most likely will be higher. A budget plan requires legislative approval and, by law, must be balanced.
Christie has hinted that he will unveil a tax cut proposal, but hasn’t said if it will resemble the proposal he couldn’t get passed by the Democrat-controlled Legislature two years ago.
Budget-watchers also are curious about how the governor will address a shortfall in the current fiscal year.