(TRENTON) – Assembly Budget Chairman Vincent Prieto (D-Hudson/Bergen) released the following statement Wednesday on news the Christie administration is actually facing a revenue shortfall of at least $351 million for this fiscal year, perhaps significantly higher (see attached document):
“It’s disturbing to hear the Christie administration is now facing at least a $121 million shortfall in energy tax collections atop the $230 million shortfall revealed on Tuesday.
“Apparently, the more we look the less likely we are to find this mythical ‘New Jersey Comeback’ the governor continues to oddly tout amid 9 percent unemployment and a net 20 percent property tax hike.
“While the implications remain unclear, the fact that the state is referencing ‘a significant negative impact’ on the governor’s budgets for this and next fiscal year shows Gov. Christie needs to spend less time organizing his sock drawer and more time working to actually revive New Jersey’s economy.”