Fair Sharing ; Corzine's Furlough Proposal Hits a Nerve

Summary

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MAKING BUDGET cuts is not a smart political tactic in an election year. Governor Corzine may not be making a politically savvy move in his bid for reelection, but his latest revised budget is cutting closer to the bone. Actually, he struck a nerve.

The state's budget deficit is now projected at nearly $3 billion. There is less tax revenue coming in and the demand for unemployment benefits continues to rise. Corzine is finding much of the needed funds by shifting money -- for example, $157 million from some state trust funds and $179 million from state surplus funds. Nearly $1 billion will come from federal stimulus funding.

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Fair Sharing ; Corzine's Furlough Proposal Hits a Nerve

The governor also proposes a tax amnesty program that should raise an additional $100 million. But that isn't the nerve-striking component of his budget revision plan...

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