Ciattarelli wants spending cuts to aid economic recovery - New Jersey Globe
Gubernatorial candidate Jack Ciattarelli wants New Jersey to cut spending in preparation of potentially-massive revenue shortfalls spurred by the COVID-19 crisis.
“While New Jersey hopes and prays for a return to normalcy, it’s plain that nothing is normal about our state’s deteriorating fiscal position,” the former Assemblyman said. “The Governor himself has spoken of the ‘revenue cliff’ crashing our state’s finances.”
The extent of the virus’s impact on the state’s economy is still unclear, though massive spikes in unemployment and strict constraints on what businesses can remain open during the pandemic are likely to cause sizeable drops in sales and payroll tax revenues.
New Jersey Treasurer Liz Muoio froze nearly $1 billion of this year’s budget in March as a proactive measure.
She warned at the time that the budget Gov. Phil Murphy introduced in February would likely need significant revisions.
Ciattarelli wants those changes to include state employee cuts, furloughs and benefits reform, among other things.
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