September 19, 1986 |
With the fiscal year only two months old, state tax revenues are running about $37 million, or 3 percent, more than official estimates. But state officials say it is much too early to revise the projections. Data released yesterday by Revenue Secretary James I. Scheiner shows that revenues from personal income and sales taxes exceeded the estimates set in early July, when the new fiscal year began. According to the report, which covers collections for July and August, income tax collections alone account for $16.9 million of the surplus.
September 30, 2011 |
MORE BUDGET cuts appear to be looming for the city, due to weak tax revenues in the first few months of the fiscal year. City department heads are being asked to prepare plans for 2 percent budget cuts that would take effect in the next few months, according to multiple City Hall sources. The police, prisons and fire departments would likely be exempt from those cuts, sources said. "We're in the very early stages of discussion," said mayoral spokesman Mark McDonald. Several weeks ago, Mayor Nutter sent a warning letter to City Controller Alan Butkovitz, noting that the city's tax revenues were below projections for July and August, putting the city on track to end the fiscal year next June 30 with $60 million less in revenue than expected.
February 26, 2011 |
You want the good budget news or the bad budget news? The good news is that city tax revenues climbed in January, according to a new report from the city controller, reflecting an ongoing stabilizing of the city's finances. But the bad news is that after three long years of fiscal decline, the city budget isn't out of the woods yet. Recent financial data released by the city show that the Nutter administration is set to end the fiscal year with just $13.5 million left in its coffers.
May 11, 1993 |
Despite a slow economic recovery and high unemployment, New Jersey's state treasurer said yesterday that tax revenues were holding firm. The three major state taxes - sales, income and corporate - have improved as the Treasury Department had predicted, and Treasurer Samuel Crane said he foresaw little need for changes in Gov. Florio's proposed $15.6 billion budget now being reviewed in the legislature. The report was good news after a bleak few days. Last Friday, the Labor Department reported that New Jersey's unemployment rate had risen in April to 9.1 percent, the highest figure among the nation's 11 largest states.
March 19, 2003
THE SUN shone especially brightly in City Council yesterday, for two reasons. The first ray of hope came in the form of a smart idea from Councilman Rick Mariano: a bill to take some of the extra revenues that come from property taxes and apply it against a reduction in the wage tax. The idea behind this bill, the subject of a public hearing yesterday and voted unanimously out of committee, is simple: According to the city's five-year plan, property...
December 7, 1995 |
Despite a projected 10 percent decline in general tax revenues in 1996, taxes here are not going up. A taxpayer with a house assessed at the township average of $14,000 will again pay $70 in taxes in 1996, according to the proposed spending plan. "We're looking to tighten our belts and finding ways to derive additional revenue without increasing taxes for the general populace," Township Manager William Rosenberry said Tuesday. The final draft 1996 budget, which totals $5,628,988, keeps the millage rate at 5 mills.
March 2, 1991 |
Two suburban legislators unveiled a plan yesterday that they said would aid growing communities by awarding them a percentage of the tax revenues that now go to the state. Under the program proposed by State Sen. Earl M. Baker (R., Chester) and State Rep. Ellen Harley (R., Montgomery), growing boroughs and townships would get back 30 percent of the increase in state income and sales-tax revenues paid by their residents during a given year. Baker and Harley said they would introduce legislation to establish the program, called the Local Infrastructure and Environmental Fund (LIEF)
July 7, 1988
City Councilman John F. Street ought to get a pilot's license, because he's always buzzing somebody. His latest low pass - Look out, below! - was over the city's business community, which he suggests should be willing to absorb a tax increase (if need be) to cover the city's costs for building and operating the new, $468-million convention center in Center City. Mr. Street reasons that business leaders shouldn't be worried, because they're convinced the project will pay for itself by boosting the city's tax revenues.
October 25, 2011 |
WASHINGTON - House Republicans are pitching a six-year transportation construction plan as a major jobs bill that can win bipartisan approval before next year's election, a key GOP lawmaker said Monday. While prospects for enacting President Obama's jobs plan have dimmed, Republicans say support has grown for a long-term transportation bill to boost employment. Transportation and road-building industries, especially the beleaguered construction industry, are also pressuring lawmakers to make a multiyear commitment of federal funds.
March 21, 1986
Mayor Goode proposed a $1.7 billion budget to City Council yesterday that deserves strong support on his key resolve to avoid a tax increase for municipal purposes. That is a difficult but achievable objective. A property-tax increase for the public schools may be necessary, however, although probably not as much as the 12 percent that was talked about when the contract with the Federation of Teachers was negotiated last September. Definitive judgment on the school tax question will have to await formal presentation of a school budget and public hearings.