Bump in Near-Term NJ Tax Revenues, Fiscal Experts Forecast

njspotlightnews.org

The Legislature’s nonpartisan budget experts are predicting state government will see a modest tax windfall by the time the current fiscal year comes to a close at the end of June.

In all, a new forecast released Tuesday by the Office of Legislative Services adds more than $450 million to a projected bottom line for the 2025 fiscal year put forward by Gov. Phil Murphy’s administration in late February.