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New Jersey

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    • Headlines : New Jersey

      Christie 'will force' legislators to address state pensions

      BenefitsPro | by Lisa Barron | April 17, 2014

      New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      This trend of increased state dependency on Washington reduces state and local control, while threatening the states' long-run autonomy.

    • Headlines

      Rebounding economy fills state coffers with record tax revenues

      Washington Post - GovBeat | by Reid Wilson | April 10, 2014

      State governments collected more than $846 billion in tax revenue in the last fiscal year, the highest amount ever reported, as a rebounding economy boosted coffers hit hard by the recession.

    • Budget timeline: Annual

      Fiscal Year starts: July 1

      The current state budget can be found here

      Find the legislative session calendar here.

      Find the current legislative leaders here.

       

      NJ Gov. Christie

      Gov. Christopher Christie
      Office of Governor Chris Christie
      125 West State Street
      P.O. Box 001
      Trenton, NJ 08625
      Phone: (609) 292-6000
      Fax: (609) 777-2922
      http://www.state.nj.us/governor/

       

       

      Charlene Holzbaur, Director
      Office of Management & Budget
      33 West State Street, P.O. Box 221
      Trenton, NJ 08625
      Phone (609) 777-1988
      www.state.nj.us/treasury/omb/

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.

       

      New Jersey is required to pass a "balanced budget." Article VIII, Section II, paragraph 2 of the 1947 Constitution states "no general appropriation law or other law appropriating money for any State purpose shall be enacted if the appropriation contained therein, together with all prior appropriations made for the same fiscal period, shall exceed the total amount of revenue on hand and anticipated which will be available to meet such appropriations during such fiscal period, as certified by the Governor". New Jersey's Budgetary Comparison Schedules within its annual reports showed budget deficits (negative net transactions) for each of the years studied.

       

      The governor is allowed to block the distribution of appropriations to State agencies when the distribution is not in the State's best interest. New Jersey law also permits deficits to be carried over from one year to the next.

       

      The State maintains two major funds: the General Fund and the Property Tax Relief Fund. The State budgets both of its major funds and several non-major funds. The annual reports' Budgetary Comparison Schedules are presented in a consistent manner and easy to locate. These schedules also present all the necessary information efficiently and include "total" columns for non-major funds.

       

      The New Jersey governor has highlighted a $600 million reduction in the State debt, reductions in the cost and size of government and no legislative "add-ons," a constitutional amendment to require voter approval of state debt, and the establishment of a Long Term Obligation and Capital Expenditure Fund. Moreover, the governor signed an executive order to require recurring revenue match recurring spending in future proposed budgets.  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

      Just Facts logo

    • Pensions :

    • HEADLINES: New Jersey

      Christie 'will force' legislators to address state pensions

      BenefitsPro | by Lisa Barron | April 17, 2014

      New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

    • HEADLINES

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • View All New Jersey articles
    • State Debt :

    • HEADLINES: New Jersey

      New Jersey Credit Outlook Revised to Negative by Fitch

      Bloomberg | by Romy Varghese | March 24, 2014

      New Jersey’s credit outlook was revised to negative by Fitch Ratings, which cited budget strains and ballooning retirement costs.

    • HEADLINES

      New data reveals amount of federal aid to states in 2012

      State Budget Solutions | by Joe Luppino-Esposito, Shannan Younger | January 28, 2014

      Surprised to learn that state governments combined received 31.6% of their general revenue from the federal government in 2012, with one state getting a whopping 45.4% from the feds? Click here to learn what percentage of your state's general revenue came from Washington, D.C.

    • View All New Jersey articles
    • Unions :

    • HEADLINES

      Some state pensions in dire straits

      USA Today | by Dustin Racioppi | March 21, 2014

      Not making payments to the pension funds, or only paying a portion of what an actuary has recommended, is largely what got these debt-burdened states to where they are today, experts say.

    • HEADLINES

      Common-Core Tensions Cause Union Heartburn

      Education Week | by Andrew Ujifusa and Stephen Sawchuk | February 20, 2014

      From the early days of the Common Core State Standards, the two national teachers' unions have been among the initiative's biggest boosters, helping to make the case to the nation's 3.5 million teachers for the tougher expectations and putting significant money into the development of aligned curricula and tools.

      But in some union quarters, that support is starting to waver—the product of flawed implementation in states, concerns about the fast timeline for new testing tied to the standards, and, in at least one instance, fallout from internal state-union politics.

    • View All New Jersey articles
    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Headlines : New Jersey

      Christie 'will force' legislators to address state pensions

      BenefitsPro | by Lisa Barron | April 17, 2014

      New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

    • HEADLINES: New Jersey

      Christie 'will force' legislators to address state pensions

      BenefitsPro | by Lisa Barron | April 17, 2014

      New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

    • New Jersey

      Christie 'will force' legislators to address state pensions

      BenefitsPro | by Lisa Barron | April 17, 2014

      New Jersey Governor Chris Christie told a town hall meeting that the state's public pension system is unsustainable and that he plans to force legislators to tackle the issue during his last term.

    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • HEADLINES

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      This trend of increased state dependency on Washington reduces state and local control, while threatening the states' long-run autonomy.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Headlines

      Rebounding economy fills state coffers with record tax revenues

      Washington Post - GovBeat | by Reid Wilson | April 10, 2014

      State governments collected more than $846 billion in tax revenue in the last fiscal year, the highest amount ever reported, as a rebounding economy boosted coffers hit hard by the recession.

    • Headlines

      Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.