State Sen. Paul Sarlo, the chairman of the Senate Budget Committee, said today Democrats will hear their version of the annual budget in committee on June 21, with an eye toward a vote by the full legislature on June 25.
In a press conference held moments after a three hour Senate Democratic caucus meeting, Sarlo confirmed that the budget will include revenue for a tax cut, but hinted that Democrats will wait to ensure revenues are on track before approving any reduction in taxes.
“If the revenues come back as the governor reports they will, we’ll provide the necessary revenue to support a tax cut, but we need to see that over the course of the next couple of months,” Sarlo said.
Sources have confirmed that the tax cut will be delayed until later in the fiscal year so Democrats can monitor the state’s revenue picture.
While Sarlo said Democrats believe whatever revenue figure certified by Christie will be bloated and overly optimistic, they nevertheless plan to base their plan on the figure.
“At the end of the day the budget that will be adopted will be based on revenues certified by this governor,” Sarlo said. “He is going to have to live with that going forward.”
Sarlo said Democrats plan to meet with the governor, who has said he will not sign a budget that does not include a tax cut.
“Absolutely there will be a discussion with the governor,” Sarlo said, adding that Christie’s demand for the inclusion of a tax cut might change during negotiations with the Senate President and Assembly Speaker.
