New Jersey Cuts Revenue Forecast by $2.3 Billion on Income Tax
The New Jersey State House in Trenton.
Photographer: Emile Wamsteker/Bloomberg
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New Jersey lowered its gross-income tax revenue forecasts by $2.3 billion.
In testimony before the Assembly budget committee in Trenton on Wednesday, Treasurer Elizabeth Muoio said that New Jersey expects $1.1 billion less for 2023 and $1.2 billion less for the fiscal year that starts on July 1.