Editors note: an earlier version of this story incorrectly reported that the monthly revenue figures are due today in keeping with an executive order signed by the governor. This month’s revenue report is not due until Monday because of the Columbus Day holiday.
TRENTON – Monthly revenue numbers are tentatively expected to be released today, a Treasury spokesman said.
The numbers, which, according to a Gov. Chris Christie executive order, are to be published the 10th business day of each month, could be released sometime today.
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. Christie has been hammering at the Democrat-controlled Legislature in recent months to pass a tax proposal, something lawmakers said they wouldn’t do unless revenues improve.
Last month, the state missed its revenue projections for the first two months of the fiscal year by nearly $100 million. Sales tax receipts represented the bulk of the revenue miss, coming in $45 million under projections, followed closely by gross income tax, which missed the mark by $31.5 million. Corporation business taxes edged out projections by $3 million.
The governor has criticized Democrats, calling them hypocrites, for refusing to pass a tax cut plan while continuing to move supplemental spending bills through the Statehouse. Christie vowed to veto any and all supplemental spending bills unless a tax cut plan is also sent to his desk.
Earlier this week the governor said he does not worry about month-to-month revenue numbers, saying that too much attention is being paid on what he says amounts to a small revenue gap.
He criticized reporters during a Tuesday news conference in Jersey City for “micro analyzing” the numbers, and said residents are not buying Democrats’ half-hearted attempts at suddenly being fiscally conscience lawmakers.
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