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John Reitmeyer

@johnreitmeyer.bsky.social
346 followers 150 following 343 posts

Finance Writer

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John Reitmeyer @johnreitmeyer.bsky.social · 24/09/2026
-If control of Congress changes, Democrats would be taking on the power of the purse at a time when federal debt has soared above the $40T threshold. -Our @njspotlightnews.org DC reporter @bhulac.bsky.social talked fiscal policy with NJ reps who could soon be in a Democratic majority.
njspotlightnews.org
NJ Democrats wary of federal spending as debt tops $40 trillion | NJ Spotlight News
'Fewer and fewer nickels to help people,' says Gottheimer, as voters fret about inflation's toll in the weeks leading to midterm elections
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John Reitmeyer @johnreitmeyer.bsky.social · 17/09/2026
-NJ's ongoing streak of credit-rating upgrades coincides with state government's return to full funding of its annual pension obligations. -Rating upgrades often lead to lower borrowing costs for state government, resulting in savings for New Jersey taxpayers. @njspotlightnews.org
njspotlightnews.org
NJ’s credit rating rises as pension funding continues to flow | NJ Spotlight News
Rating upgrades often lead to lower borrowing costs, resulting in savings for New Jersey taxpayers
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Julie O'Connor @juliehoconnor.bsky.social · 31/08/2026
Caskets to culinary? Experts say a Newark mortician’s $700k contract raises school job training red flags. www.njspotlightnews.org/2026/08/how-...
njspotlightnews.org
How Whitney Houston's mortician got a $700k Newark school deal | NJ Spotlight News
Critics ask why contract for hotel and food service training was awarded to local go-to embalmer for celebrities and political elite
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John Reitmeyer @johnreitmeyer.bsky.social · 20/08/2026
"The interest payments on the nation's debt are already larger than what we spend on national defense or Medicare."
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John Reitmeyer @johnreitmeyer.bsky.social · 17/08/2026
As fare hikes help sustain NJ Transit’s growing annual budget, advocates say it's time to establish a discount program for low-income riders. @njspotlightnews.org
njspotlightnews.org
NJ Transit low-income riders need fare discounts, advocates say | NJ Spotlight News
By poverty measures, nearly 2 million New Jersey residents would qualify for the 50% reduction that New York City offers
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Marketplace @marketplace.org · 14/08/2026
For the first time since World War II, the country’s debt is actually larger than the economy itself. Driven by surging federal spending, the government has already borrowed almost $2 trillion in fiscal year 2026 and is on track to borrow even more before the year is over.
marketplace.org
This year's budget deficit has almost reached $2 trillion. It's not over yet.
The U.S. has already surpassed its 2025 budget deficit with about a month and a half left to go in its fiscal year. According to the Congressional Budget Office, the government is on track to borrow m...
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PBS News @pbsnews.org · 08/08/2026
New labor data shows the U.S. economy lost 23,000 jobs in July when economists had predicted modest growth. to.pbs.org/4wj6QTo
to.pbs.org
What the July jobs report reveals about the strength of the economy
New labor data shows the U.S. economy lost 23,000 jobs in July, when economists had predicted modest growth. Revised numbers for May and June also show 103,000 fewer jobs created than originally repor...
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John Reitmeyer @johnreitmeyer.bsky.social · 07/08/2026
Another good story coming from Ben this week is this in-depth look at what a major freight rail merger could mean for our beloved NJ Transit.
njspotlightnews.org
NJ Transit warns: Commuters at risk in proposed freight rail merger | NJ Spotlight News
Two of the nation's biggest haulers, working together, would run more trains and disrupt passenger lines, critics say
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John Reitmeyer @johnreitmeyer.bsky.social · 07/08/2026
It's the middle of the summer, but my @njspotlightnews.org colleague @bhulac.bsky.social is hard at work on the DC-NJ beat. This story on the proposed rolling back of post-Great Recession banking reforms is an important one. www.njspotlightnews.org/2026/08/bank...
njspotlightnews.org
Banking bill is latest step back from financial crash protections | NJ Spotlight News
'Most sweeping deregulation of Wall Street' since Great Recession would boost lenders, put consumers at risk, says House Democrat
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Julie O'Connor @juliehoconnor.bsky.social · 07/08/2026
Trump officials want to strip federal rules for Head Start's pre-k programs, saying that would free funds to serve more kids. But experts fear the changes could degrade the programs terribly, putting hundreds of thousands of kids at risk -- including in NJ www.njspotlightnews.org/2026/08/trum...
njspotlightnews.org
Trump's Head Start rollback a 'Trojan horse' for pre-K, critics say | NJ Spotlight News
Thousands of New Jersey children at risk of losing instruction hours and teacher-to-student ratio would suffer
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John Reitmeyer @johnreitmeyer.bsky.social · 30/07/2026
-NJ’s public worker pension fund appears poised to continue a multiyear winning streak. -The fund’s FY2026 investment returns totaled 14%, through the end of May, doubling the assumed rate of return. @njspotlightnews.org
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New Jersey pension fund on track to continue winning streak | NJ Spotlight News
Investments may double the targeted rate of return for 2026, defying worries about war in Iran and easing taxpayer pressure
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John Reitmeyer @johnreitmeyer.bsky.social · 23/07/2026
The last year has been difficult, but I'm also proud of my @njspotlightnews.org colleagues. -Under difficult circumstances, we've grown our following to 72K YouTube subscribers & 17K Instagram followers -We also launched an award-winning podcast -And we're still sending out our AM and PM newsletters
nytimes.com
PBS Slashes Budget by 21% After Federal Funding Cuts
The nonprofit will receive less revenue from its members, which are under pressure to make up for shortfalls of their own.
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John Reitmeyer @johnreitmeyer.bsky.social · 13/07/2026
-Maintaining flush budget reserves is one thing state policymakers can do to manage revenue losses that come with economic downturns. -As inflation and war now threaten to slow economic growth nationwide, NJ's latest annual budget calls for surplus to be used as revenue to support annual spending.
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NJ’s new budget dips into surplus, leaving less for emergency need | NJ Spotlight News
'That's not a good savings account,' says Republican assemblyman, as state set to drain reserve fund by well over $1 billion in next year
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John Reitmeyer @johnreitmeyer.bsky.social · 01/07/2026
Spending is up, but the structural budget gap is a bit smaller compared to this time last year. Don't overlook full pension funding, but COLAs remain suspended, and this year policymakers went backward on last-minute add-ons transparency. @njspotlightnews.org www.youtube.com/watch?v=JA-O...
youtube.com
Breaking down New Jersey's $60.7 billion budget
YouTube video by NJ Spotlight News
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John Reitmeyer @johnreitmeyer.bsky.social · 01/07/2026
Gov. Sherrill signs into law "affordability budget" that calls for record $60.7B spending in FY2027, and a separate appropriations measure that spends another $360M. Budget surplus takes another big hit, will drop to about $6B by June 30, 2027. @njspotlightnews.org
njspotlightnews.org
NJ lawmakers rush to get $61 billion in spending signed into law | NJ Spotlight News
Republicans ask: Where is the transparency that governor had promised on millions of dollars in 'Christmas tree' items?
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John Reitmeyer @johnreitmeyer.bsky.social · 30/06/2026
-For those keeping score, about $61B in new state spending is up for consideration today in Trenton ($60.74B FY2027 appropriations + $360M FY2026 supplemental) -Budget surplus drops from $7.66B to $6.05B at close of FY2027 to help finance expenditures outpacing collections @njspotlightnews.org
njspotlightnews.org
Amid budget gap, Democrats advance $360M in new spending | NJ Spotlight News
'This isn't normal. This isn't right,' Republican lawmaker says of dash to move a 358-page budget bill on day it was introduced
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John Reitmeyer @johnreitmeyer.bsky.social · 24/06/2026
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Benjamin Hulac @bhulac.bsky.social · 23/06/2026
NEWS: Congress scrapped all earmarks last year, a move that cost New Jersey more than $200 million. Now, earmarks are back, and New Jersey is poised to reap the benefits. www.njspotlightnews.org/2026/06/afte... @njspotlightnews.org #NJ #Congress
njspotlightnews.org
After a year without, more than $250 million in earmarks for NJ | NJ Spotlight News
From military aircraft control tower design to 'not real sexy' recycling bins for Camden, lawmakers in Congress hail federal funding
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John Reitmeyer @johnreitmeyer.bsky.social · 23/06/2026
Gov. Sherrill and top NJ legislative leaders say they have a deal that ensures a full pension payment and expanded child tax credit will make it into the final budget for the next fiscal year. But full details of their behind-the-scenes agreement were not disclosed. @njspotlightnews.org
njspotlightnews.org
Agreement reached on $60.7 billion NJ budget for next fiscal year | NJ Spotlight News
Sherrill, legislative leaders announce full pension payment, expanded child tax credit, cut in deficit ahead of July 1 deadline
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John Reitmeyer @johnreitmeyer.bsky.social · 22/06/2026
-NJ's pension fund has shed its stake in a private company operating an ICE facility in Newark -Some lawmakers are pushing to force the pension fund to ditch an investment in another ICE contractor amid hardline immigration crackdown @njspotlightnews.org
njspotlightnews.org
NJ pension ditches stake in Geo Group, operator of Delaney Hall | NJ Spotlight News
Palantir Technologies, whose AI is useful to immigration agents, remains in portfolio as critics insist on divestment
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John Reitmeyer @johnreitmeyer.bsky.social · 18/06/2026
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John Reitmeyer @johnreitmeyer.bsky.social · 18/06/2026
-NJ's state government needs a new budget by July 1 -Lawmakers have yet to introduce the spending bill that needs to pass both houses and get the governor's signature by the deadline -Without a budget, state govt shuts down in the middle of an international soccer tournament @njspotlightnews.org
njspotlightnews.org
Days before NJ budget deadline, major spending details unclear | NJ Spotlight News
Even Murphy, a Democrat, wanted more scrutiny of lawmakers' last-minute requests, and a Republican bill would increase transparency
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John Reitmeyer @johnreitmeyer.bsky.social · 10/06/2026
"(C)onsumer prices in May were up 4.2% from a year ago. That's the biggest annual increase since April of 2023. By contrast, the Labor Department says average wages have risen only 3.4% over the last year, so workers' real spending power has declined."
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John Reitmeyer @johnreitmeyer.bsky.social · 09/06/2026
-Gov. Sherrill’s proposed state budget flat funds NJ’s 988 suicide prevention hotline at a time when demand is rising. -Some lawmakers say the system needs more funding and they still want to establish a tax on phone lines to bring in dedicated, additional revenue for NJ's 988. @njspotlightnews.org
njspotlightnews.org
Will NJ’s 988 crisis hotline get more state funding, dedicated tax? | NJ Spotlight News
Mental health service could broaden with bigger budget infusion, though governor is mindful of affordability
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John Reitmeyer @johnreitmeyer.bsky.social · 02/06/2026
-NJ farmers face some of the highest operating costs in the nation, including property taxes and labor. Now fuel and fertilizer prices are way up due to President Trump's war in Iran, adding to the financial strain. @njspotlightnews.org
njspotlightnews.org
Cost of fuel, fertilizer leaves NJ farmers facing 'financial strain' | NJ Spotlight News
On top of rising costs, farmers have had to contend with volatile spring temperatures that resulted in widespread damage to crops
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John Reitmeyer @johnreitmeyer.bsky.social · 29/05/2026
"This large support is consistent across every demographic group, never dropping below 75% in any key demographic."
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John Reitmeyer @johnreitmeyer.bsky.social · 29/05/2026
As we await introduction of the FY2027 spending bill . . . Eight out of 10 NJ voters surveyed for this Rutgers-Eagleton Poll favor ending the practice of adding new spending to the state budget in the final days before a vote on its adoption.
eagletonpoll.rutgers.edu
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John Reitmeyer @johnreitmeyer.bsky.social · 22/05/2026
"Raise your hand if you think New Jersey already has too much traffic . . ." @njspotlightnews.org
njspotlightnews.org
Understanding rising gas prices, from taxes to Iran War | Hey, NJ | NJ Spotlight News
John Reitmeyer and Benjamin J. Hulac discuss the political and economic implications of suspending the gas tax
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John Reitmeyer @johnreitmeyer.bsky.social · 14/05/2026
It is truly a pleasure to collaborate with talents like @colleenodea.bsky.social and @bhulac.bsky.social on stories that attempt to go deep on key issues. @njspotlightnews.org "Where Issues Matter"
njspotlightnews.org
Earmarks flood Democratic strongholds. Can Sherrill cut off her party? | NJ Spotlight News
As lawmakers ready hundreds of millions of dollars in budget requests, one grant process shows what happens when all applicants have a shot
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Julie O'Connor @juliehoconnor.bsky.social · 13/05/2026
More than 230 U.S. schools, including about 15 in NJ in the past few years, paid thousands for private “Blue Ribbon” awards. For more on what sparked this investigation, listen to our podcast: Is your kid’s Blue Ribbon school what you think it is? www.njspotlightnews.org/podcast/hey-...
njspotlightnews.org
Purchased prestige: Is your kid's Blue Ribbon school what you think it is? | NJ Spotlight News
Urban education writer Julie O'Connor discusses her reporting, New Jersey's response and the implications
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NJ Spotlight News @njspotlightnews.org · 12/05/2026
Summer financial aid, student teacher stipends, and operating aid for higher education institutions across New Jersey are at stake in Gov. Sherrill’s budget proposal for fiscal year 2027.
njspotlightnews.org
College summer aid cuts may harm students for life, educators say | NJ Spotlight News
As state confronts $ 3 billion budget gap, Republican lawmaker says both parties agree that program has value
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John Reitmeyer @johnreitmeyer.bsky.social · 01/05/2026
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John Reitmeyer @johnreitmeyer.bsky.social · 30/04/2026
-NJ's public worker pension fund generated nearly 11% investment returns in FY2025 -A few months ago, the FY2026 returns were once again topping 10% -Then came President Trump's war in Iran, which triggered volatility that threatens to dampen those soaring returns. @njspotlightnews.org
njspotlightnews.org
NJ pension fund says Iran war triggered ‘adverse' market reaction | NJ Spotlight News
Time remains to recapture those gains through the fiscal year, though ongoing conflict and the oil supply make for economic uncertainty
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John Reitmeyer @johnreitmeyer.bsky.social · 29/04/2026
Everyone remembers that excruciating video where @bhulac.bsky.social tried to get U.S. Rep. Tom Kean Jr (R-7th) to answer basic questions during Kean's bid for reelection in 2024. With Kean now MIA in DC, Ben & the @njspotlightnews.org "Hey, NJ" podcast hosts talk all about Kean's ongoing absence.
njspotlightnews.org
Where’s Tom Kean Jr. — and what’s going on with NJ’s missing congressman? - NJ Spotlight News
Washington correspondent Benjamin J. Hulac breaks down what we know
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John Reitmeyer @johnreitmeyer.bsky.social · 27/04/2026
From a big revenue loss to $100M in new expenditures state govt is having to take on, NJ is now feeling the effects of HR 1, the much-debated federal tax and spending law enacted nearly a year ago that President Trump and the GOP Congress called their "Big Beautiful Bill." @njspotlightnews.org
njspotlightnews.org
NJ budget challenge: combating fallout from Trump's 'big' law | NJ Spotlight News
Administration 'recklessly slashing critical programs,' says Sherrill, with a spending plan minus hundreds of millions of federal dollars
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John Reitmeyer @johnreitmeyer.bsky.social · 23/04/2026
Congrats! @pbsnews.org
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Benjamin Hulac @bhulac.bsky.social · 23/04/2026
NEWS: Members of Congress are worried about Tom Kean. He is not replying to texts or calls and has not voted in the House since early March. "We just haven’t heard a word." www.njspotlightnews.org/2026/04/radi... @njspotlightnews.org @genesisobando.bsky.social @maddiference.bsky.social
njspotlightnews.org
Concerns over congressman’s health during lengthy absence | NJ Spotlight News
Calls and text messages to a missing New Jersey congressman have gone unanswered
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John Reitmeyer @johnreitmeyer.bsky.social · 22/04/2026
--Trump's approval rating on the economy dropped to 30% in April from 38% in a March AP-NORC poll.--
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Benjamin Hulac @bhulac.bsky.social · 22/04/2026
NEW: ICE and CBP have tens of billions of dollars in reserve. Republicans in Congress want to give them more money -- enough at least to "carry us through the Trump presidency." www.njspotlightnews.org/2026/04/immi... @njspotlightnews.org #ICE #CBP
njspotlightnews.org
Immigration agencies have funding for years; GOP seeks more | NJ Spotlight News
Infusion of $140 billion in budget outline would be enough to 'carry us through the Trump presidency,' Graham says
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Colleen O'Dea @colleenodea.bsky.social · 17/04/2026
Crowd at @analiliafornj.bsky.social HQ hearing from Newark Mayor Ras Baraka, longtime union leader Hetty Rosenstein and others as they wait for the main attraction after a very early call by AP. Results: www.njspotlightnews.org/2026/04/11th...
njspotlightnews.org
11th Congressional District Special Election Results | NJ Spotlight News
Live results of the election to fill the seat vacated by Gov. Mikie Sherrill until Jan. 3.
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John Reitmeyer @johnreitmeyer.bsky.social · 16/04/2026
NJ Transit . . . World Cup crowds . . .summer temperatures What could go wrong? Another great @njspotlightnews.org Hey, NJ podcast episode👇👇👇
njspotlightnews.org
World Cup 2026: With less than 100 days, is New Jersey ready? - NJ Spotlight News
NorthJersey.com reporters Katie Sobko and Colleen Wilson map out what we know and what's to come
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John Reitmeyer @johnreitmeyer.bsky.social · 15/04/2026
NJ's bonded debt has dropped below $39B. This reduction, measured at the end of FY2025, comes after lawmakers and former Gov. Murphy created a dedicated reserve for debt defeasance and prevention. However, the state’s latest ACFR shows OPEB obligations remain on the rise. @njspotlightnews.org
njspotlightnews.org
As NJ reduces bonded debt, other long-term costs riseNJ Spotlight News
Pension, benefits obligations soar $10 billion in one year, and a Treasury report warns of significant increases for health insurance
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PBS News @pbsnews.org · 14/04/2026
U.S. wholesale prices surged last month as the Iran war drove up the cost of energy. to.pbs.org/4cxvZSG
to.pbs.org
U.S. wholesale prices surged 4% last month during the Iran war
The surge in prices complicates the work of the inflation fighters at the Federal Reserve, who have faced intense pressure from President Donald Trump to lower their benchmark interest rate. But some ...
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Marketplace @marketplace.org · 13/04/2026
Some Americans say they would rather illegally withhold their taxes than unwillingly fund immigrant detention centers or military aid. The objections are modern, but this form of protest dates back to the country’s founding.
marketplace.org
More Americans are becoming interested in tax resistance
The act of withholding taxes dates back to the Founding Fathers.
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NJ Spotlight News @njspotlightnews.org · 13/04/2026
Hey, NJ! This week, we’re talking about the war in Iran. Over a month into an expansive war in the Middle East, where is Congress? @bhulac.bsky.social discusses secret briefings, upcoming budget hearings, war power votes and more. Listen: www.njspotlightnews.org/podcast/what...
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John Reitmeyer @johnreitmeyer.bsky.social · 13/04/2026
Inflation is straining the personal finances of many government retirees living in New Jersey. Gov. Sherrill wants the state to make another full pension contribution in FY2027. But COLAs for retirees would stay frozen for at least another year. @njspotlightnews.org
njspotlightnews.org
Sherrill wants full pension funding, with retiree COLAs still on hold | NJ Spotlight News
Treasurer cites $6 billion 'penalty' -- roughly one-tenth of the proposed state budget -- for past skimping on retirement payments
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John Reitmeyer @johnreitmeyer.bsky.social · 10/04/2026
Gov. Sherrill's proposed budget includes $2B in cuts. But NJ Transit is getting a $215M increase. NJT's CEO told lawmakers: “The governor intuitively understands that in order for us to have a successful economy, you have to have a mass transit system that actually functions." @njspotlightnews.org
njspotlightnews.org
Amid budget cuts, Sherrill proposes more money for NJ Transit | NJ Spotlight News
Governor understands need for commuter bus and rail network that 'actually functions,' agency leader tells lawmakers
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John Reitmeyer @johnreitmeyer.bsky.social · 10/04/2026
"The gas price shock stemming from the Iran war has shifted inflation's trajectory, from a slow, gradual decline to a sharp increase further away from the Fed's 2% target."
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John Reitmeyer @johnreitmeyer.bsky.social · 08/04/2026
What if the state could use tax information it already collects from employers to fill out your NJ tax return? The idea behind a legislative ReadyReturn proposal is to simplify state taxes, especially for low income taxpayers with limited access to technology and tax pros. @njspotlightnews.org
njspotlightnews.org
NJ senators want to take the drudgery out of doing your state taxes | NJ Spotlight News
ReadyReturn would streamline preparation and connect low-income residents with services like nutrition, child care and heating aid
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John Reitmeyer @johnreitmeyer.bsky.social · 07/04/2026
The potential for a prolonged military conflict overseas is triggering a rise in gas prices across NJ. But also increased economic uncertainty, posing a new challenge for revenue forecasters in Trenton who have started looking ahead to the new fiscal year that begins July 1. @njspotlightnews.org
njspotlightnews.org
Uncertainty looms as NJ revenue forecasters ready for fiscal year | NJ Spotlight News
Job losses, artificial intelligence, Middle East war make for a hazy picture as treasurer and legislative experts testify on Sherrill's budget
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