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Former Ocean County GOP Chair George Gilmore, who was pardoned by former President Donald Trump following criminal federal tax convictions, has a new mission: Help get matching funds for a far-right long shot gubernatorial candidate.
NJ revenue outlook, better and better | NJ Spotlight News njspotlight.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njspotlight.com Daily Mail and Mail on Sunday newspapers.
N.J. didn’t need to borrow all those billions, budget analysts say, sparking criticism of Murphy
Updated 3:54 PM;
Today 3:33 PM
Treasurer Elizabeth Muoio appeared before the Senate Budget and Appropriations Committee on Tuesday.David Gard | For NJ Advance Medi
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New Jersey’s nonpartisan fiscal analysts said Tuesday it’s now clear the $4 billion the state borrowed last fall was not necessary to balance the state budget, spurring renewed questioning of whether Gov. Phil Murphy acted in haste.
The state’s revenue and spending projections that led to borrowing were defensible at the time, but “from today’s vantage point, the borrowing was not essential,” Thomas Koenig, revenue and finance office for the nonpartisan Office of Legislative Services, told lawmakers at the Statehouse.
Lawmakers question Murphy team on whether NJ needed $4B of new debt April 6, 2021
2:00 pm
Republican lawmakers said April 6 they are taking aim at the Murphy administration over the more than $4 billion the state borrowed to make up for lost revenue from the pandemic after revelations that the state may have likely needed very little of those funds.
Democratic lawmakers, who hold significant majorities in both chambers of the state Legislature, also want to dig deeper into the state’s dire predictions and see to what extent the $4 billion of debt was an appropriate response.
Last year, Gov. Phil Murphy was able to push plans forward allowing the borrowing of more than $4 billion, with the goal of using the funds to pay for expenses incurred by the COVID-19 pandemic.
N J tax revenue, already up $3B, could be even higher, budget analysts say nj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nj.com Daily Mail and Mail on Sunday newspapers.