by Kim Jarrett, The Center Square
| May 06, 2021 06:00 PM
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New Jersey spends 3.6% of tax revenues on higher education, and that is not enough to keep tuition costs down, according to Senate Republican Leader Tom Kean and Democratic Sen. Vin Gopal.
Kean and Gopal are co-sponsoring a bill that would create a permanent funding formula for higher education.
The bill would establish the New Jersey Higher Education Funding Formula Commission, which would analyze the funding formulas in other states and review New Jersey’s spending.
"The commission's recommendations will help our state colleges in a way that does not currently exist in New Jersey,” Gopal said in a statement.