The Christie Administration projects revenue shortfall of $676 million
The administration is projecting a revenue shortfall of $676 million through Fiscal Year 2013, a little over half the revenue miss of $1.3 billion predicted earlier today by the Office of Legislative Services.
According to an administration source with knowledge of the revenue projections, Treasurer Andrew Sidamon Eristoff will present plans to close the gap before the Assembly Budget Committee Wednesday.
The revenue shortfall for the two fiscal years amounts to about 1 percent of the overall budget, the source stressed. (Isherwood, PolitickerNJ)
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