Sandy's Effect on Tax Cut Uncertain:Christie

Proposed 10-percent tax cut could be in danger due to revenue loss from Sandy

Monday, Nov 12, 2012  |  Updated 9:08 PM EDT
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Gov. Chris Christie says it's too early to tell whether Superstorm Sandy has KO'd his proposal to give residents a 10 percent tax cut.

Christie says he expects revenues for October and November to be off because of the storm. But he says the state could see a revenue bounce once rebuilding begins in earnest.

The Republican has been pushing for a phased-in tax cut that would start in January.

He says the budget had enough cushion before the storm to enact the tax cut.

Democrats who lead the Legislature have insisted on a wait-and-see approach to determine whether the state can afford the loss of revenue that would result from a tax cut.

Revenue collections so far this fiscal year have not matched the governor's targets.

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