NEW JERSEY Health Insurance : bleak picture of the state's economic landscape : EasyToInsureME

NEW JERSEY Health Insurance : Legislative budget hearings last week revealed a far more bleak picture of the state's economic landscape than originally thought. New Jersey now anticipates state revenue collection will be $1.5 to $2 billion dollars short of projections for the current fiscal year. This is more than double the $600 million figure the governor and Treasury were expecting earlier in April. In the coming weeks, the legislature and administration will develop and propose a comprehensive plan to generate new revenue. To date both branches have been hesitant to impose new corporate taxes, but that could change.