BUDGET MOVES FORWARD IN SENATE AND ASSEMBLY COMMITTEES

A new state budget was approved through both major budget committees in each house. The Senate and Assembly budget committees moved the $30.6 billion budget ahead. The full houses are scheduled to vote on the budget on Wednesday and then Gov. Chris Christie will have the chance to sign it, or line-item veto certain portions of it. Christie is expected to make some changes to the budget prior to its final adoption. Christie does not favor the millionaire’s tax, which is one portion of the budget that assumes revenue that Christie will likely veto out.