New Jersey legislative budget and finance officer David Rosen is projecting the state will collect $700.6 million less in the next two fiscal years than the state’s executive branch has predicted, potentially leaving Gov. Chris Christie with an inadequate cushion against possible financial problems.
Rosen projects the state would collect $259.4 million less revenue in fiscal year 2014 than the treasurer, who is part of the executive branch, has predicted, he told New Jersey Assembly Budget Committee. This would be 0.8% of the treasurer’s current revenue prediction. Rosen, who based his projections on current sources of revenue, also told the committee that he projects $441.2 million less in fiscal year 2015 than the treasurer.