TRENTON - In its own analysis of Treasury revenue figures, the Office of Legislative Services said today that total major revenues for the month of January rose by more than 10 percent, largely due to increases in income tax and sales tax revenues.
While calling that a positive development, OLS pointed out that the revenue growth “continues to lag the certified year-end growth target of 8.3%.”
OLS said that each of the major revenues will need to go up by 13 percent in order to reach that goal.
In December and January, gross income tax receipts rose nearly 20 percent. It attributes much of the increase to:
1) a timing shift of bonus payments into December;
2) growth in estimated payments due to the federal tax law changes; and
3) the shift of one week’s withholding collections from February last year into January this year (worth between $120 million-$150 million).
OLS also reported corporate business tax revenue “remains well below the 26.3% growth rate required” to meet the Christie Administration’s goals of salubrious revenue growth.
Campaign season now under way in Bergen County Politics is practiced year-round in Bergen County, and street-level campaigning has been going on quietly all summer. But both Republicans and Democrats say the Rutherford Street Fair on Labor Day signals a more intense phase of electioneering. (Ensslin/The Bergen Record) http://www.northjersey.com/news/campaign-season-now-under-way-in-bergen-county-1.1079080 ...
By MICHAEL W. KLEIN In his weekly radio address on August 16, President Obama challenged colleges “to do their part to bring down costs” and lighten the tuition burden on students. The state colleges and universities in New Jersey have... Read More >
"Governor Christie ripped President Obama this summer for failing to carve out some time during a Texas fundraising swing to visit the Mexican border, where the unprecedented flood of immigrant children from Central America had reached a crisis point. ...Yet Christie is not squeezing in a tour of the troubled border during his own three-day trade and diplomatic mission to Mexico, which is set to begin on Wednesday. The governor is planning a series of meetings with Mexican officials, including President Enrique Peña Nieto and the finance and energy ministers." - columnist Charles Stile- The Bergen Record
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