Prop 2 1/2 Jersey style

David Halbfinger of the New York Times reports that Governor Christie is proposing “deep cuts” in state spending, which will amount to something like 5 percent of the state budget.

Interestingly, Christie is taking a page out of Massachusetts’ lore and seeking to replicate Prop 2 1/2:

Mr. Christie’s idea for a 2.5 percent cap on increases in property taxes, modeled on Proposition 2 ½ in Massachusetts, would allow no exceptions except by local referendum and would apply to towns, school boards and counties. He also is calling for new handcuffs on towns and school districts as they bargain with unions, to prohibit towns from awarding contracts with pay increases, including benefits, of more than 2.5 percent.