The Legislature’s budget expert has told lawmakers that Gov. Chris Christie’s revenue projections for the next 13 months are overestimated by nearly $1 billion.
New Jersey’s economic recovery has not been as robust as state forecasters had anticipated. As a result there is a revenue shortfall, the size of which is now being debated by legislators in Trenton.
The governor gets his revenue projections from the state treasurer and puts them in his budget. Legislators turn to their own expert in the Office of Legislative Services (OLS).