State budget introduction, votes delayed in Trenton njbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njbiz.com Daily Mail and Mail on Sunday newspapers.
State officials expect new revenue windfall of more than $4B June 9, 2021
1:14 pm
The state’s closing balance over the next year is expected to come in at more than $4 billion over what state officials previously expected, completely defying last year’s expectations of a total economic meltdown amid the COVID-19 pandemic.
Analysts at the nonpartisan Office of Legislative Services are expecting $3.3 billion more in the state’s coffers than what it initially projected this spring, adding to an already massive surplus for the state.
Then by June 30, 2022, the end of the upcoming budget cycle, state officials in the OLS expect another $1.46 billion surplus than initially projected.