The first detailed analysis of how the state and its residents will be affected by the agreement reached last summer, the report assesses the impact on state government operations and individuals, those being the two largest recipients of federal dollars coming into the state. Raimondo is a professor of public policy at the Eagleton Institute of Politics and the Bloustein School of Planning and Public Policy, both at Rutgers University in New Brunswick. He also serves as a member of the Governor's Council of Economic Advisers. New Jersey Policy Perspective is a nonpartisan organization founded last year to conduct research on major state issues. The report was made possible by a grant from The Fund for New Jersey.
New Jersey stands to lose a lot of assistance that helps people, especially the most vulnerable.
We need to have an honest debate about what to do next. In fact, the report found that two thirds of the capital gains rate cut benefits will go to only 2 percent of New Jersey tax filers. In the past, a national slowdown has meant a more serious slump for New Jersey and a longer recovery than other states. The obvious concern is that an economic bump means a revenue dip. The Governor and the Legislature could be facing real spending cuts in 1998 and beyond.