Revenue Estimates

MEDIA ADVISORY - Senate Budget Committee To Receive Revised Revenue Estimates Tuesday

By Jason Butkowski - May 12, 2008 - 3:59pm

Tags: FY 2009 Budget, David Rousseau, Senate Budget and Appropriations Committee, Revenue Estimates,Top Story: Breaking,

Release Date: May 12 2008

MEDIA ADVISORY - SENATE BUDGET COMMITTEE TO RECEIVE REVISED REVENUE ESTIMATES TUESDAY

TRENTON – On Tuesday, May 13, the Senate Budget and Appropriations Committee is scheduled to hear testimony from State Treasurer David Rousseau and the Office of Legislative Services concerning revised revenue estimates for the FY 2008 and FY 2009 State Budgets.

According to Senate Budget Committee Chairwoman Barbara Buono, D-Middlesex, State revenue is mostly comprised of three major taxes – the State income tax, sales tax and corporation business tax. Each Spring, the Budget Committee conducts hearings to review different facets of the Governor’s fiscal year spending plan, and the impact of the budget on individual State departments. The culmination of those review hearings is a revised revenue presentation by the Treasurer and legislative budget analysts in May, based on information provided by tax collections in April.

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