New Jersey faces steep deficits in coming years, group warns

February 13, 2024

New Jersey could face staggering deficits in the next few years even if the state does not move to raise spending, according to a series of projections by the Sweeney Center for Public Policy.

“There are certain things that the state is committed to by constitution or by law. Medicaid is increasing, school aid is increasing,” said Richard Keevey, a former state budget director and comptroller. “We can argue about whether transit is necessary, but the numbers to me say that we’re facing significant shortfalls, and we should not exacerbate that by starting something new.”

“The last couple of days, we’ve been talking a lot about the World Cup coming in and the potential of NJT. I think that’s probably secondary or tertiary because they seem to have a plan for that,” said Marc Pfeiffer, a senior policy fellow at the Rutgers’ Edward J. Bloustein School of Planning and Public Policy. “What we don’t have a plan for is the long-term funding of NJT.”

New Jersey Monitor, February 13, 2024

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