Wall Street to Murphy: N.J. budget may be hurt by Christie sales tax cut, Trump tax law

NJ.com -

NJ.com—N.J.'s new governor is on track to face a revenue shortfall in his first budget, warns a Wall Street credit-rating agency. A pair of contrasting tax policies sets the stage for a revenue shortfall -- and major headache -- for Gov. Phil Murphy when he crafts his first budget, a Wall Street ratings agency says.  Moody's Investor's Service warned in a report Monday the state' economy isn't growing fast enough to pay for increased contributions for public worker...

N.J. and towns could be slammed by Christie pension move, Trump tax law and more. S&P Global Ratings warned New Jersey and local governments face challenges in rising pension bills, controlling property taxes and sorting out the effects of federal tax reform. Looks like 2018 is going to be a tough year for New Jersey's state and local governments. A Wall Street agency said Wednesday that New Jersey and its local governments will be fighting pressures on multiple fronts  as they grapple with the expiration of a key property tax control, a...