|
N.J. Gov., Lawmakers Reach Deal on Budget
 New Jersey's governor and lawmakers reached a deal Thursday on a new state budget, six days into a state government shutdown that shuttered casinos and threw more than 80,000 people out of work. Gov. Jon Corzine said the shutdown could end by late Friday or early Saturday if budget bills pass the Senate and Assembly. The legislation will be considered Friday by committees in both houses, allowing final budget votes as soon as late Friday. The governor cautioned that the budget accord was not cause for celebration, because too many residents' lives were disrupted. "We have much more to do in the coming months and years to fix our state's public finances," he said. The deal will increase the state sales tax from 6 percent to 7 percent and use half the $1.1 billion that it will raise to help lower property taxes, which are among the highest in the nation. It allows the possibility that, in future years, the entire increase will go to property tax relief. Posted by: Fred 2006-07-07 |
| http://www.rantburg.com/poparticle.php?ID=158474 |