New Jersey may face $10B budget shortfall through FY 2021

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New Jersey could be facing a shortfall of more than $10 billion through the end of the next fiscal year because of the economic fallout from the coronavirus pandemic

, according to new preliminary projections from the state Treasury department.

The projections released Wednesday evening are based on a number of assumptions, including that there will not be a resurgence of coronavirus cases later this year, and do not factor in any of Murphy’s proposed tax increases, including a higher tax rate on millionaire households. But some lawmakers have expressed skepticism toward borrowing. Senate President Steve Sweeney has said he is open to the idea, but wants a shorter borrowing time frame and feels as though the administration has not been forthcoming with information about its finances, a claim that Treasury disputes.

But the governor’s office has not released a breakdown of how it arrived at that figure, and It’s unclear if the projection is just for the state budget or for towns and counties as well.

 

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NoahCRothman Cut spending.

Maybe they should open up so that doesn’t happen.

Do we know yet how many people died because Murphy forced patients into nursing homes? Have we modeled the virus impact on states that do not have nitwits running them?

Maybe just maybe adjust the budget reevaluate where your money is going

Полностью с вами с согласна

Don't tell Mitch McConnell...

WATCH & SHARE: How Trump & Jared Kushner are filling their pockets amid pandemic funnelling billions through private corporations to sell medical items to states at 10X jacked up prices

*stares in California*

MILLIONS OF INNOCENT 🇺🇸 CITIZENS WILL PERISH BECAUSE OF MY STABLE GENIUS BUT

Yep. When you pur all your eggs in one basket, it is feast or famine

Don’t bail them out, make them reopen their states

TRUMPANDEMIC

More reasons to ditch deadbeat red states so we can fund our own state needs

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