Christie may cut budget to close growing shortfall, Treasury says
TRENTON — New Jersey’s budget shortfall will grow to a staggering $807 million at the end of April, state officials announced Monday while warning of a fiscal emergency that could force Gov. Chris Christie to make deep and unexpected cuts to several programs.
The state Treasury, in a rare announcement last night, said the Republican governor is bracing for a tough financial blow when the month wraps up tomorrow. Despite the setback, Christie “will take any and all actions necessary” to find the money to shore up his $32.2 billion budget — even if it means slashing property tax rebates or other programs, Treasury indicated.
An early look at major tax revenues by Treasury officials showed the state will be $600 million short of Christie’s estimates for April. (Rizzo/Star-Ledger)
He has no choice.