NJ revenue collections below projections

Taxes and fees are being collected at about the same rate as last year, missing targets by $451 million midway through New Jersey’s fiscal year.  Legislative budget expert David Rosen says revenue collections are running far behind the robust growth rate of more than 7 percent projected by Gov. Christie’s administration.  Adding to the state’s overall woes, the state finished the last fiscal year in June about $250 million behind projections, for a total shortfall of $700 million.