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How New Jersey Averted a Pandemic Financial Calamity


How New Jersey Averted a Pandemic Financial Calamity
A $44.8 billion spending plan unveiled Tuesday by Gov. Phil Murphy calls for no new taxes and fully funds the state pension program for the first time since 1996.
Gov. Philip D. Murphy of New Jersey released a $44.8 billion budget on Tuesday that shows better-than-expected revenue projections.Credit.Pool photo by Anne-Marie Caruso
Published Feb. 23, 2021Updated Feb. 26, 2021
It has been five months since New Jersey officials warned of a coronavirus-related financial calamity. The dire outlook contributed to lawmakers’ decisions to increase taxes on income over $1 million and to become one of the first states to borrow billions to cover operating costs. ....

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