State Revenues Tank
The New Jersey Treasury Department says it now expects to collect $1.2 billion less for the fiscal year that ends June 30 than it estimated in February, and its forecast for the new fiscal year is now $1 billion lower than original estimates.
State tax collections experienced a free fall in April, dropping more than 14% from last year’s historically high levels, and collections for the current fiscal year came in more than 1% lower when compared with the previous year.
Wednesday’s revenue update marked the end of the Legislature’s review of Gov. Phil Murphy’s $53.1 billion state budget proposal, and it marked the start of negotiations between the administration and state lawmakers as they work to finalize a new spending plan before the June 30 deadline.
The revenue update was driven by a whopping $1.4 billion decline in gross income tax collections, a major source of revenue for the state that is largely reliant on high-income earners who experienced losses on investments amid a turbulent stock market in 2022.
South Jersey Political Boss Steps Back from Politics
South Jersey Political Boss George Norcross, who built and ran one of the most powerful political machines in the nation, has announced that he will be taking a step back from politics.
Norcross, a 67-year-old insurance executive, never held elected office yet wielded power rivaling some governors. He stacked the state Legislature with allies, brokered deals that decided control of government and backed multiple members of Congress, including his brother.
But his standing changed after the 2021 election defeat of state Senate President Steve Sweeney, a childhood friend toppled unexpectedly by a virtually unknown Republican challenger.
Norcross said he was “involuntarily pushed to a different place” and has been “sitting in the backseat” ever since. After thinking through his future, Norcross says he’s ready to dramatically scale back his political activities and shift his focus to other professional and personal interests.
It is a ground-shifting moment in New Jersey politics — one that could reshape the state’s Democratic Party and change the way things get done in Trenton. His decision also has implications for Democrats nationally because he has been a key behind-the-scenes player in fundraising and recruitment.
A Legislative Approach to Weight Discrimination
New Jersey State Senator Andrew Zwicker introduced S2741 in June 2002, which would outlaw weight or height discrimination. The bill proposes to expand the characteristics covered by existing laws against discrimination to include height and weight.
The bill was referenced to the Assembly Judiciary Committee and could receive a public hearing sometime this year.
Advocates say that a law against weight discrimination is needed to raise awareness of anti-fat bias in society and to give overweight people a way to stand up for themselves when discriminated against.
The Fight Against Congestion Pricing
As New York’s congestion pricing plan moves closer to becoming a reality, New Jersey leaders and officials are stepping up efforts to combat the controversial plan that would charge drivers up to $23 a day to enter Manhattan south of 60th Street.
Earlier this month, congestion pricing took a major step forward following the U.S. Department of Transportation’s Federal Highway Administration’s (FHWA) decision to allow New York and the Metropolitan Transportation Authority (MTA) to move to the next step of the process.
On May 15, U.S. Sen. Robert Menendez, D-N.J., held a press conference where he was joined by advocates, business leaders and transportation officials, to announce the Stop NJ Congestion Act—legislation he says will address the congestion pricing tax on New Jersey drivers and small businesses.
Gov. Phil Murphy did not appear at the press conference but did release a statement supporting Menendez’s legislation saying, “as a conceptual matter, I support congestion pricing, but it must be structured in a way that is fair to all sides. Until New York’s congestion pricing plan is fixed, I will keep working closely with partners from both states and both sides of the aisle to halt implementation of this misguided tolling plan. Our administration is closely assessing all legal options.”
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