Assembly Budget Chairman Lou Greenwald (D-Camden) released the following statement on Wednesday after the Assembly Budget Committee heard from the Department of the Treasury:
“Tuesday’s school votes represented a revolt against the impending property tax increases that would be caused by the governor’s budget proposal that slashes property tax relief, but my worry is more bad news may be coming. Legislative estimates show sales tax revenue coming in about $310 million below the governor’s estimate for this and next fiscal year. If that becomes reality, we’re all going to have to work together to revise the budget plans.
“I’m very certain that taxpayers already concerned about Gov. Christie’s budget proposal would not look favorably on a revised plan that brings additional cuts to property tax relief.”
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