Improved Revenues Don’t Ease NJ Budget Tension

New Jersey’s better-than-expected tax collections aren’t making it easier for legislators and Governor
Corzine to agree to a final budget plan.
Legislators remain worried over many of Corzine’s proposed cuts.
They’re especially concerned over plans to cut state aid for towns and cities — and offer retirement incentives to state workers.
Corzine has revised plans to cut municipal aid. But Senate Majority Leader Stephen Sweeney remains concerned the cut would still hit smaller towns hardest.
New tax collection figures released Tuesday showed the state collecting about $374 million more in tax revenue than expected through next fiscal year.
That’s a far cry from fears the state would collect as much as $500 million less.
Corzine is insisting the extra money go toward cutting debt, not new programs.
(Copyright 2008 by The Associated Press.  All Rights Reserved.)