NJ gov offers $32.1 billion budget, a 3.7 percent hike
New Jersey Gov. Chris Christie is proposing a $32.1 billion budget for the next fiscal year, a 3.7% increase.
The spending plan Christie unveiled in a Statehouse address in Trenton on Tuesday comes with $212 million extra for education. It would bring modest increases in state aid to most school districts.
The budget for the fiscal year, starting July 1, also contains $183 million to fund the first half-year of the governor's 10% income tax cut. And it includes money for a 5% increase in the tax credit for poor, working families. Municipal aid would remain unchanged.
Tax collections are lower than projected for the first six months of the year, but Treasurer Andrew Eristoff said he expects a better second half and revenue growth topping 7% for the 2013 fiscal year.
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Copyright 2012 WFMZ. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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