Gov. Chris Christie Presents Budget With Tax Cut

TRENTON, NJ (AP / CBSNewYork) – New Jersey Gov. Chris Christie is proposing a $32.1 billion budget for the next fiscal year.

READ: Full Text Of Gov. Christie’s Address Here

It includes a small increase in school aid, flat funding for municipalities and the modest amount needed to fund the first half-year of his 10 percent income tax cut.

Christie’s proposed budget, which he unveiled in a Statehouse address, represents a 3.7 percent uptick in spending to go with an improved economic forecast.

“Because we have made the tough choices in these last two years, we can make the right ones now,” the Republican governor told a joint legislative session in which he promised to veto any efforts by Democrats to raise taxes.

Though tax collections are lower than projected for the first six months of the year, Treasurer Andrew Eristoff said he expects a more robust second half. He has forecast revenue growth to top 7 percent in fiscal year 2013.

Christie’s proposal includes $212 million more for education. Most school districts would see modest increases in state aid.

The budget also contains $183 million to fund the first half-year of the governor’s 10 percent income tax cut and money to fund a 5 percent increase in the Earned Income Tax Credit for poor, working families. The increase would boost the average benefit to $495 per family.

Municipal aid would remain unchanged, though there would be less transitional aid money available to financially strapped cities and towns.

Christie’s budget also makes a $1.1 billion payment to the severely underfunded pension system, up more than a half-billion dollars from the current year’s contribution. The state agreed to phase in its annual contribution to the pension system after Christie signed legislation requiring government workers to pay more toward their retirement.

The proposed budget includes a $107 million increase to higher education, and recommends funding the Homestead Rebate and Senior Freeze property tax relief programs at current levels. Christie also proposed flat funding for hospitals, which were cut last year.

The Legislature must adopt a balanced budget by July 1, the start of the new fiscal year.

(TM and Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments

One Comment

  1. Christie: will this porkball ever stop eating? says:

    I WONDER HOW HE FITS THROUGH A DOORWAY?

  2. Christie is a beachball with arms and legs! says:

    WHY IS CHRISTIE SO FAT? I WAS NOT MADE AWARE THAT WILD BOARS COULD BE TAUGHT HOW TO SPEAK HUMAN LANGUAGES? AMAZING!

  3. Carlos says:

    It’s not crap but reality.And our creepy governor wants Buffet to shut up about the rich and taxes and gives a tax break across the board that will put a few dollars in your pocket and millions in the rich’s pockets like Bush did.When your blind you will fall for anything they give you.

  4. TRACK says:

    About his size (Christie), women are degraded everyday about their size n they are the ones who house humans! Yeah I said that…

  5. NJSEWER says:

    Gov. Chris Christie should start smoke crack like Whitney Houston so he can lose some weight

  6. Christie THE MESSY BUCKET OF HOG SLOP! says:

    JENNY CRAIG? YOU’RE KIDDING RIGHT? THAT WOULD REQUIRE WILL POWER AND SINCE THE GOVERNOR TIPS THE SCALE AT 500 LBS, HE APPARENTLY DOESN’T HAVE THE ABILITY TO CONTROL HIMSELF AT ALL.

  7. Mikeybklyn says:

    The other half to be used at Ruth’s Christie.

  8. Mikeybklyn says:

    and to think only half of that budget will go to Jenny Craig.

    1. Rodin says:

      Get off of the Fat Jokes, Idiot!!

  9. Christie THE MESSY BUCKET OF HOG SLOP! says:

    IT’S FAT TUESDAY. CHRISTIE IS FAT AND IT’S TUESDAY SO I GUESS THIS IS THE GOVERNOR’S DAY?

  10. Christie THE MESSY BUCKET OF HOG SLOP! says:

    I HAVE AN ANNOUNCEMENT EVERYBODY: GOVERNOR CHRISTIE CRAPPED HIS PANTS ON FAT TUESDAY! ISN’T THAT AMAZING?

  11. Ryan says:

    Hopefully december 21, 2012 cleans house. I have had enough of these idiots. http://survive-2012-no-matter-what.blogspot.com

  12. Peter says:

    Put a little money aside for the Big Macs !!!

    1. fedup with morons says:

      hey here is another moron…these people can form their own reality show

  13. Frederick says:

    The anti Christie statement are so boring. It is getting tedius to know in advance the following fact: If it a Democrat that equals “good” and if it is a Republican that equals “bad”. This applies to all the mindless who think that way and never bother to develop a rational for their opinions. Plus this “rich versus the poor” stuff is simply crap parading as sweet perfume.

  14. Concern says:

    Top Ten Cash Poor States : Charity Search Engines, BOX TOP$ for EDUCATION, LABELS FOR EDUCATION, and charityusa.com .

    drugstore.com now ships from

  15. CHRISTIEISAPOS says:

    MAYBE THIS WHALE WILL KEEL OVER AT THE PODIUM AND HOPEFULLY DROP DEAD.

    1. fedup with morons says:

      Wow, now that is the type of ignorant, inane comment we all need to hear. Is that the best you can do, comment on someone size? I guess you must be Fabio or some supermodel to be able to make a comment such as that. You are the type of individual that gives NJ a bad name so maybe you should think of moving somewhere because Lord knows we can free up some space in our state from lumps of flesh such as your self. When your IQ goes up 20 points or so to a non handicapped level, then maybe you can make some intelligent comments

  16. Kleetis Slywage says:

    Another GOP ‘Tax Cut’ that will hurt the middle class and reward the wealthiest [who already have more money than they know what to do with].

  17. frank says:

    Gov. Chris Christie To Present Budget With Tax Cut Today. No “s” on Presents

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