Sandy's Effect on Tax Cut Uncertain:Christie | NBC 10 Philadelphia

Sandy's Effect on Tax Cut Uncertain:Christie

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




    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.