NJ Governor Christie Signs $32B State Budget
By David Madden
TRENTON (CBS) - Governor Chris Christie has signed the fiscal 2013 budget into law, a little more than a day ahead of the deadline. As KYW's David Madden reports, he used his line item veto to bring the spending plan in line with what he wanted.
Reaction to Christie's $361 million worth of cuts, bringing the budget in at $31.7 billion, came down strictly along party lines. Republicans hailed their governor for keeping spending in check. Democrats complained about the cuts, which affected, for the most part, programs they pushed for, like a planned hike in a tax credit for the working poor.
Christie labeled the spending he slashed "unnecessary or unwarranted." Then there's the difference between the governor and legislators over phase one of a three-year tax cut with $183 million set aside. Christie wants the money spent now. Legislators have tied release of those funds to Christie's revenue estimates which some consider overly optimistic.
