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NJ BUDGET: Senate budget panel to get revenue estimates

Local News | Apr 01, 2014

NJ BUDGET: Senate budget panel to get revenue estimates

TRENTON, N.J. (AP) — Lawmakers on the New Jersey Senate Budget Committee are scheduled to get a state budget briefing.

The Legislature’s budget expert will update the panel Tuesday on revenue projections while the state Treasurer will provide an overview of the proposed budget for 2015.

Gov. Chris Christie presented his $34.4 billion budget in February. The Legislature must approve a balanced budget by June 30.

Christie’s budget makes a required $2.25 billion payment to the underfunded public worker pension system, leaving little money for other spending. The governor has been pushing to extend a 2 percent cap on raises to public workers, whose contracts wind up in arbitration.

The cap expired at the end of March. Renewing it could be part of any negotiated budget deal between the Republican governor and Democratic Legislature.
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