TRENTON — Is New Jersey really facing a potential budget deficit next year that could rise as high as $10.5 billion? A legislative panel hopes to get some answers this week. Democrats, citing a recent report by the state's nonpartisan Office of Legislative Services, say it's a possibility. But Republican Gov. Chris Christie and other administration officials sharply dispute...
A March 2010 file photo of the Assembly Chamber.TRENTON — Is New Jersey really facing a potential budget deficit next year that could rise as high as $10.5 billion?
A legislative panel hopes to get some answers this week.
Democrats, citing a recent report by the state's nonpartisan Office of Legislative Services, say it's a possibility.
But Republican Gov. Chris Christie and other administration officials sharply dispute that projection, saying the OLS mistakenly assumed all programs now in the budget would be included in next year's spending plan.
The Assembly's Budget Committee plans to meet at 10 a.m. Thursday to hear testimony.
The projected deficit is similar to the hole Christie plugged in the state's just-completed budget. To do that, he slashed aid to schools and municipalities, suspended property tax rebates and skipped a $3 billion pension fund payment.
Previous coverage:
• Rutgers study suggests N.J. public workers' compensation not a factor in balancing budget
• N.J. treasurer says schools, municipalities should expect the same level of funding for 2011 budget
• Gov. Christie says projection of $10.5B shortfall for next year is 'fake'
• N.J. Gov. Christie is not expected to raise taxes to close $10.5B budget shortfall
• N.J. faces $10.5B budget deficit heading into next year
• N.J. Senate to review Gov. Christie's proposals to contain property tax hikes
• Looking ahead, analysts say N.J.'s budget woes may be far from over