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New Jersey’s Fiscal Cliff: Explained, with Professor Thad Calabrese

Welcome to the GSI Briefing podcast – hosted by Regina Egea, President of the Garden State Initiative.

In this episode, Thad D. Calabrese Ph. D. breaks down his report issued by GSI titled: The Fiscal Cliff, Explained. Thad details in plain English how New Jersey’s declining revenue will mean much higher taxes starting in 2025 for both residents and businesses. Other important trends such as our slower than average population growth and spending well above inflation rates are the key subjects Thad takes on and ultimately offers policy recommendations to lead the state back to economic solvency.

Professor Calabrese is a Professor of Public and Nonprofit Financial Management at the Robert F. Wagner Graduate School of Public Service at New York University where he currently serves as the head of the school’s finance specialization.

He served as the Chair for the Association for Budgeting and Financial Management and as a member of the Governmental Accounting Standards Advisory Council and currently serves as the Treasurer for the Association for Research on Nonprofit and Voluntary Action.

Professor Calabrese is a co-author of the GSI report Toward a Fiscally Sustainable New Jersey: Analysis & Recommendations which was issued in September 2021.