Christie seeks $1.5 billion in budget cuts
Gov. Christie declared a "fiscal state of emergency" in a speech to the Legislature this morning and laid out about $1.5 billion in spending cuts, including freezing $475 million in aid to school districts, $62.1 million in support for public colleges and $12.6 million in hospital aid.
Gov. Christie declared a "fiscal state of emergency" in a speech to the Legislature this morning and laid out about $1.5 billion in spending cuts, including freezing $475 million in aid to school districts, $62.1 million in support for public colleges and $12.6 million in hospital aid.
Christie said the cuts are "beginning the process of fiscal reform and discipline."
"Today we are going to act swiftly to fix problems long ignored. Today I begin to do what I promised the people of New Jersey I would do. Today I begin to give them the change they voted for in November," Christie's prepared remarks read.
Christie also cut $57.9 million from the InvestNJ program, which former Gov. Corzine created to give tax credits to companies that create new jobs. He slashed $158 million from the Board of Public Utilities' clean energy fund.
The steps, he said, were needed to close a more than $2 billion deficit in the budget that goes through June 30.
