New Jersey Looking to Improve State Finances

Overview

New Jersey is one of the fastest growing states in the country. Over the past couple of years, the state has invested billions of dollars in infrastructure to sustain its growth. There are a lot of people who are unhappy about the cost on these upgrades. For example, road repair throughout the state has put an additional $20 billion of debt on the balance sheet. Many residents are not pleased with the fiscal management of the state government. This will be an interesting point to watch over the next couple of years.

Paying Back Debt

Many state governments do not manage their fiscal policy wisely. Over the long term, debt restricts the cash flow of the state. Although infrastructure is important, there are many people who believe that the repairs are not necessary right now. Instead of spending billions of roads, many people contend that the state could have used the money to stimulate the economy. Over the past couple of years, many residents have voiced their concern with how the money is being handled.

Future Plans

New Jersey is a progressive state that is trying to change its ways. It became one of the first states to legalize gambling online, and this is expected to provide a boost to tax revenue in the state. This will help to offset the cost of the new road repairs, but it does not mean that the decision to repair the roads was a good one.