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.
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.
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.
In a unanimous ruling, the Supreme Court says borrowing for operating expenses is legal to respond to COVID emergency. The full $9.9B might not be allowed.
Murphy administration says the borrowing is allowed to respond to an emergency caused by a disaster. Republicans sued saying it would need voter approval.
State Sen. Mike Testa said Gov. Murphy is salivating at the chance to borrow $10B and likened him to Gollum from "The Lord of the Rings" series begging lawmakers for that power.