NJ lawmakers will get details of Revenue windfall

New Jersey Star Ledger reports:

State Treasurer David Rousseau and David Rosen, the Legislature's nonpartisan budget director, will update state lawmakers on the state's revenue outlook today.

In March, the non-partisan Office of Legislative Services feared the state might be facing a $134 million revenue gap during the remainder of the current budget year, which ends June 30, and the next one. It now expects a net windfall during the same period of nearly $370 million.

That number assumes current year revenue will be nearly $600 million higher than administration projections made in February due to higher than expected income and business tax collections, according to legislative sources. It also assumes revenue in the next budget year will be about $200 million below projections.

Rousseau will appear at 10 a.m. before the Senate Budget and Appropriations Committee, followed by Rosen at 1 p.m. The committee is meeting in the Statehouse annex in Trenton.

We'll bet taxpayers aren't going to get their taxes cut in New Jersey anytime soon.