Chairman Expresses Concern amid Continued Economic Uncertainty & Impact on State Revenues
(TRENTON) – Assembly Budget Chairman Gary Schaer on Thursday said the Assembly Budget Committee on Monday will hold a hearing to review the New Jersey economy, including how it may impact state revenues in the coming months.
“Whether it’s been a record 10 credit downgrades under Gov. Christie or projections that New Jersey’s economy will continue to lag behind the national economy, we have cause for rightful concern,” said Schaer (D-Passaic/Bergen). “We must be cautious amid slow growth and an economy lagging behind that of the nation. I do not want to wait until the spring to hear that state revenues are suddenly a problem. We need to know what may lie ahead so we can be best prepared as a state.”
The committee has invited state Treasurer Ford M. Scudder and the Office of Legislative Services to inform the committee on revenue performance at mid-year. It has also invited James Hughes, the dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers, The State University of New Jersey.
The hearing will take place at 2 p.m. in Committee Room 11 of the State House Annex.
Audio of the hearing will be streamed live at http://www.njleg.state.nj.us/media/live_audio.asp.