TRENTON – The governor’s self-imposed deadline for releasing monthly revenue figures came and went last week, and yet there’s little in a way of a response from the administration of when the data will be made available.
According to the governor’s own executive order, October revenue figures should have been released Friday – the tenth business day of the month. However, revenue data has not yet been issued by the Department of Treasury.
A spokesman for the governor said the numbers are expected to be released in conjunction with the administration’s assessment of damages from the storm. The spokesman, Michael Drewniak, did not give a timeframe for when that would be.
The monthly figures are significant as the calendar draws closer to December, when Democrats promised to decide whether to offer a tax cut for New Jersey residents.
Year to date revenue collections were off nearly $175 million from projections for the month of September. Sales tax collections made up the bulk of the revenue shortfall coming in at $94 million off projections for the first three months of the fiscal year. Gross income tax receipts came in $7.8 million over estimates.