Sandy's Effect on Tax Cut Uncertain:Christie

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

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    NEWSLETTERS

    TK
    AP

    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.