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Gov. Phil Murphy on Tuesday signed into law a $46.4 billion budget brimming with new spending and pet projects Democratic lawmakers tucked into the spending plan just before they approved it.
The spending plan for the 2022 fiscal year, which begins July 1, is the largest budget in New Jersey history, yet it does not include new taxes.
New Jersey s budget represents a remarkable shift in fortunes as it reemerges from the COVID-19 pandemic.
A doomsday prediction of revenues by the Murphy administration that led it to borrow $4 billion has proved drastically off the mark, and now the state is flush with a $10 billion surplus, an astronomical amount for a state that is one of the most indebted nationwide and perennially lurches from one fiscal crisis to another.
NJ budget, signed by Murphy, largest in state history. What's in it burlingtoncountytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from burlingtoncountytimes.com Daily Mail and Mail on Sunday newspapers.
NJ budget: Backroom deal is another blow to democracy njherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njherald.com Daily Mail and Mail on Sunday newspapers.