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State officials expect new revenue windfall of more than $4B June 9, 2021 1:14 pm The state’s closing balance over the next year is expected to come in at more than $4 billion over what state officials previously expected, completely defying last year’s expectations of a total economic meltdown amid the COVID-19 pandemic. Analysts at the nonpartisan Office of Legislative Services are expecting $3.3 billion more in the state’s coffers than what it initially projected this spring, adding to an already massive surplus for the state. Then by June 30, 2022, the end of the upcoming budget cycle, state officials in the OLS expect another $1.46 billion surplus than initially projected.

United statesNew jerseyMitch mcconnellDonald trumpPhil murphyJon burzichelliHal wirthsStephen sweeneyPaul sarloSenate budgetAssembly budget committeeOffice of legislative servicesAssembly appropriations committeeJersey state treasury departmentLegislative servicesNew jersey state treasury department