New Jersey Gov. Chris Christie will reveal his budget for the next fiscal year on Tuesday in midst of political troubles related to the Bridgegate scandal.
The September traffic jam at a major bridge in Fort Lee, N.J., allegedly an act of political retaliation, may serve as a political distraction. As Christie’s standing in national polls has fallen since the scandal, he could aim to achieve bold tax cuts in order to bolster public support. It is unclear how Christie will balance these political challenges with his January proposals for pension reform and lengthening the mandated school day, Reuters reported.
Christie additionally faces significant economic challenges in the coming fiscal year, as New Jersey must allocate $2.3 billion to its underfunded pension system. The state is also projected to receive $400 million less in revenue than previously projected for the current fiscal year. New Jersey was ranked last among states for financial stability according to a new study by Georgia State University’s Sarah Arnett.