Bramnick: July Revenues More Good News for State
Assembly Republican Leader Jon Bramnick, R-Union, Somerset and Morris, issued the following statement regarding the positive news from the Treasury Department’s latest report on revenues for July which indicate a 10.7 percent increase compared to the same month last year. Sales tax collections fueled the growth, increasing 8.8 percent from the July 2012 level. For the 13 months through July 2013, the state’s revenues were up 6.8 percent compared to the 13 months through July 2012.
The Treasury Department’s report comes on the heels of the recent news from the Bureau of Labor Statistics that the state’s unemployment rate decreased to 8.6 percent, which is more than a one percent decrease from a year ago.
“New Jersey’s economic resurgence is well underway. Revenues are up, private-sector jobs have increased and unemployment is down. These trends are not unrelated. They all point to the fact that our economy is growing. These numbers reflect the increasing confidence of the consumer and the business community that our state is headed in the right direction.”
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