The following is an article from NJSpotlight.com, here is a link to the article:
Double challenge confronts Dems, GOP: Find funds in current budget — and even more in next year’s
The can has been kicked down the road as far as it can go.
Monday’s court ruling that Gov. Chris Christie and the Legislature need to come up with nearly $1.6 billion for the public-employee pension system by the end of June is going to turn a tough budget season into a nightmare.
The ruling effectively means — unless a promised appeal by Christie is successful — that Trenton will have to make significant spending cuts with just months left in the state’s fiscal year. Or it will have to find ways to generate new revenue after previous budget shortfalls have already used up most one-shot fixes like delaying property-tax relief payments.
It also means that the Republicans and Democrats will have to hammer out a way to work together, no small feat given what appear to be insurmountable differences.… Read the rest