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Article: Consulting Firms Reveal Lower Revenue Projections for New Jersey.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 11, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Eugene Kiely, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Dec. 11--TRENTON, N.J.--Two economic consulting firms hired by the state estimate that New Jersey's revenue shortfall this year could top $1.4 billion -- double what the DiFrancesco administration has publicly acknowledged.
In a separate development, Moody's Investors Service late yesterday changed the state's rating outlook from stable to negative.
A budget task force assembled by Gov.-elect James E. McGreevey discovered the revised projections while reviewing budget documents during the transition. The task force included the projections in a six-page memo on the ...