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New Jersey’s $29.38 Billion Budget For 2011 Closes Shortfall

Jun 25, 2010

Despite the saber-rattling and sometimes contentious debate, the New Jersey Legislature reached a bipartisan consensus in support of Governor Chris Christie’s budget plan to close an unprecedented $11 billion deficit without raising taxes. Governor Christie was able to get many, but not all of his cost-cutting proposals in the budget, which include tough choices to help solve the State’s ongoing fiscal crisis. Aside from some moderate fee increases for various licenses and filings, there doesn’t appear to be anything in the budget that would negatively impact the State’s franchised new car and truck industry. According to Governor Christie, the proposed budget lays the foundation for necessary long-term reforms in how State government operates, such as:¨ Cutting government spending and ending public excesses that taxpayers can no longer afford;¨ Reforming government so it costs less, but works smarter and faster for New Jerseyans;¨ Restoring balance to the obligations the State takes on so that, in the future, we can provide sustainable funding for priority services. NJCAR will continue following the budget discussions until the final vote.