It’s official: NJ borrows $4.3 billion to balance its 2021 budget
After interest-only payments are made in 2021 and 2022, yearly payments are expected to be slightly more than $500 million for the 10 years that follow.
state budget
NJ Budget Signed But Immigrant Funding Remains at Issue
A small group of protesters blocked a street in Trenton as they continue advocating for state aid to help undocumented immigrants during the pandemic.
Pandemic Clears Way for Return of Millionaires Tax in NJ
In the end, it took a worldwide pandemic – plus a plan for $500 checks to middle-class families in an election year – to get a millionaires tax back on the books in New Jersey.
As inmate population drops, NJ plans $59M in prison budget cuts
The Department of Corrections intends to reduce spending on halfway houses by 40% and close its Central Reception Assignment Facility in Trenton.
Fighting Murphy's taxes, biz groups say economy 'horrible'
Business groups are hammering Gov. Phil Murphy’s budget plan over its more than $1 billion in tax hikes, two-thirds affecting the wealthy and corporations.
Email only for public to comment on 2021 state budget
The Legislature begins its review of Gov. Phil Murphy’s budget Tuesday, with the typical four-month marathon turned into a sprint concluding in three weeks.
Legislature not ruling out Murphy’s proposed $1B in tax hikes
The deadline to enact a balanced spending plan is in five weeks, suggesting a period of intense negotiations and hearings are on Trenton's horizon.
NJ business leaders say taxing millionaires will be costly for rest of us
They’re calling on Gov. Murphy to cut spending and institute real reforms to produce a balanced state spending plan that’s been severely impacted by the COVID pandemic.
Murphy’s pandemic budget: Borrow $4B, raise taxes by $1B
Gov. Phil Murphy proposes to borrow $4 billion and raise taxes by $1 billion to balance New Jersey’s revamped 2021 budget.
Facing ‘enormous hole,’ Murphy to finally detail new budget plan
Gov. Phil Murphy delivers a revamped 2021 budget plan in a speech at Rutgers University's SHI Stadium Tuesday morning.