Outgoing New Jersey Gov. Jon Corzine asked the Legislature not to pass any measures that would increase spending during the remainder of his term.
Governor-elect Chris Christie will take office in January. Christie defeated Corzine in the Nov. 3 general elections.
Corzine last week reiterated his plan to keep expenditures in line with revenues.
“My administration will continue to live up to our responsibility to maintain a fiscally balanced budget during the next two months,” he said.
On Oct. 19, Corzine said first-quarter fiscal 2010 revenues were $190 million below expectations. He called for $205 million of immediate budget savings and asked his cabinet to provide another $200 million of reductions by Dec. 1.
In a press release last week, the administration said revenue could also underperform in future months: “October revenue collections are coming in below targets and may continue to erode in the months ahead as the national economic recession places pressure on spending for critical safety-net programs like Medicaid.”
