TRENTON, N.J. — New Jersey Gov. Chris Christie yesterday declared a fiscal emergency and announced his plans to withhold $475 million of school aid, as well as cut funding to New Jersey Transit, higher education, hospitals, and other programs to fill a $2.2 billion fiscal 2010 billion deficit.
The Republican governor spoke before a special joint session of the Legislature, his first address before both chambers since taking office on Jan. 19. He will return on March 16 to deliver his fiscal 2011 budget address. Officials estimate an $8 billion to $10 billion funding shortfall in that spending plan. Fiscal 2011 begins July 1.