This report today from NJ Spotlight’s John Reitmeyer:

The Legislature’s nonpartisan fiscal experts say revenue losses caused by the coronavirus pandemic won’t be as bad as Gov. Phil Murphy’s administration has been forecasting, a sign the state’s economic outlook may be improving, or at least better than many feared.

New projections issued Thursday by the Office of Legislative Services forecast a revenue gap about $500 million smaller than the estimate the Murphy administration released just last week in a proposed rebalancing of state spending.