NJ Debt Surges 22%, Approaching $27,000 for Each Resident
New Jersey’s long-term debt ballooned by more than $44 billion in the 2021 fiscal year.
state debt
NJ Colleges to Get $400M from State in 2022 to Upgrade Facilities
The state is going to provide colleges $400 million in grants to upgrade and build facilities next year, Gov. Phil Murphy and other state officials announced Tuesday.
NJ Treasury Takes First Step Toward Reducing State’s $44B Debt
State treasury officials took a first step toward paying down some of New Jersey’s long-term debt Friday.
Sorry, Connecticut! NJ Long-term Finances No Longer Rank Worst
Connecticut is now ranked worst by that measure for the first time since fiscal 2013, back when New Jersey ranked third from the bottom, also better off than Illinois.
NJ Putting Aside $3.7B to Pay Down and Avoid More State Debt
New Jersey's bonded debt is approaching $50B, including the $3.7B the state borrowed in November when it thought COVID would wreck its revenues.
Turns Out, Borrowing $4.3B ‘Not Essential’ to Balance NJ Budget
NJ’s budget is balanced in part through nearly $4.3B from emergency borrowing authorized in response to the coronavirus pandemic, but a nonpartisan budget analyst says it’s now clear that wasn’t necessary.
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.
NJ Supreme Court weighs legality of $10B in budget borrowing
Murphy administration says the borrowing is allowed to respond to an emergency caused by a disaster. Republicans sued saying it would need voter approval.
Borrowing Plan Narrowly Favored as NJ Budget Balancing Strategy
It's contentious and it might not be legal, but the idea of borrowing $9.9 billion gets more support from other deficit cures in an FDU Poll.