state budget

New Jersey’s long-term debt ballooned by more than $44 billion in the 2021 fiscal year.

State lawmakers are approving a $50.64 billion budget for the fiscal year that starts Friday, including $2 billion to expand property tax rebates and credits and a $6 billion surplus to guard against a possible economic downturn.

For the last 10 days of summer, you can get 6.625% tax savings on school supplies, computers, and sports equipment, under the state's 2023 budget.

The state collected $3.282 billion in revenue in May – a nearly 39% plunge, or $2.072 billion.

Assembly Republicans want to cut income taxes as part of the new state budget, part of a four-pronged plan for responding to an unprecedented surge in state revenues and surplus.

State tax collections are growing at an unprecedented rate and a portion of the windfall appears likely to be used to provide more direct tax relief to residents.

New Jersey’s higher education goals include attracting more federal research grants to its colleges, part of providing students more hands-on learning opportunities – plus the boost for the state economy.

Considering the record revenues and surplus, there was quite a bit of angst as the Assembly Budget Committee met with Gov. Phil Murphy's treasurer.

Though lawmakers have expressed interest in restoring aid to municipalities that is diverted to the state, that's not in Gov. Phil Murphy's budget plan.

Some people might get a small break from the state next year as they renew driver's licenses, apply for marriage licenses, or enter state parks.