Senate President Richard J. Codey (D., Essex) and Assembly Speaker Joseph J. Roberts Jr. (D., Camden) met with Gov. Corzine this afternoon to talk about the latest grim budget news: a new shortfall that could be as large as $2 billion.
"This began as a dreadful budget year and unfortunately it's only getting worse and worse," Roberts said after the meeting.
Roberts said the three did not discuss specific solutions, but he noted that municipal aid and school aid are two of the largest items in the budget and said property tax rebates, another large line of spending, is "an area that we're going to have to continue to talk about."
He said all potential solutions are on the table for discussion. We took a look at some of the possible budget fixes and fall out from the latest revenue shortfall on Saturday.
Roberts added that Corzine is hoping to lobby the Obama administration for additional federal aid and more flexibility in spending some of the money Washington has already awarded to New Jersey.
He said tax increases should be a last resort.
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