New Jersey
NJ legislature considering $56.6 billion budget; vote expected Friday
3-minute read
Historic savings for taxpayers as NJ debt is being paid down
Historic savings on the way for taxpayers as New Jersey debt is being paid down, Gov. Phil Murphy said during his 2025 state budget address.
With less than a week before the end of the fiscal year, legislative committees were in Trenton on Wednesday to advance a budget bill.
The Assembly Budget Committee was scheduled to start at 2 p.m. – though it was later updated to 4:30 p.m. − and the Senate at 4 p.m., both were hours late to start as they considered the state’s spending plan for fiscal year 2025 – which runs from July 1 through June 30, 2025.
The bill language was not posted online but documents were obtained by reporters around 8 p.m. The bill was introduced as a $56.6 billion budget, an increase of about $728 million over the governor’s proposal and $2.3 billion more than the fiscal year 2024 budget.
Revenue projects indicate that the state will earn about $54.5 billion in the new fiscal year, meaning the budget functions at a deficit of $2.1 billion. Projects show a surplus of about $6.1 billion.
Not everyone was on board with the plan and the business lobbyists was among the most vocal.
Chris Emigholz of the New Jersey Business and Industry Associate called it a “bad budget,” pointing to the structural deficit in the bill.
“It’s bad for our taxpayers. It’s bad for our job creators. It’s bad for our fiscal responsibility,” he said.
Tom Bracken of the New Jersey Chamber of Commerce said that the “business community has run out of patience.”
But advocates like Peter Chen of the New Jersey Policy Perspective spoke in support of the bill.
“This is a budget that leads us on a path towards a better New Jersey, towards a New Jersey where the mighty and powerful are forced to pay what they owe to support the investments that help everyday New Jerseyans,” he said.
State Sen. Declan O’Scanlan, the Republican budget officer, said the “already bloated” budget is worse than it had been with the addition of discretionary spending items.
“The fact that we are massively increasing spending at a time when we have already done so over the last six years of this administration, is in many ways a runaway freight train,” he said. “In just the last week, we’ve added almost $700 million.”
State Sen. Paul Sarlo, the committee chair said that “no budget is ever perfect this is not either quite frankly” but that the process of creating a budget with two branches of government and two houses of the Legislature requires a lot of give and take.
He said there is supplemental spending but that many are “spending priorities” and “one time infrastructure” items and that they are a “very, very small components to this budget.”
Sarlo also candidly announced that he wished the corporate transit fee wasn’t included but he understands the “transit issue is looming and in order to stay competitive and get people to work you need a vibrant transit system.”
“No transit agency across this entire country is solely dependent on ridership,” he said. “Can we do better? We have to do better with transit.”
The bill was ultimately cleared in the Senate along party lines.
Gov. Phil Murphy proposed a $55.9 billion spending plan in February and then handed it off to the Legislature to figure out the details and after months of testimony and negotiations the budget appeared before committee.
Among the other bills to clear committee was a 2.5% corporate transit fee for businesses in the state earning more than $10 million. Details on that bill, sponsored by Senate President Nick Scutari, were scarce as well but the idea was first proposed by Murphy in his budget address in February.
Another bill geared toward providing medical debt relief also cleared committee despite testimony against it. Sarlo said that the bill would pass because it was a non-negotiable priority for the administration.
After clearing both committees, the budget is set to be voted on in full chambers on Friday. The governor has until midnight Sunday to sign the bill.
NewJerseyDevils.com is the official web site of the New Jersey Devils, a member team of the National Hockey League (“NHL”). NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Conference logos are registered trademarks of the National Hockey League. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Copyright © 1999-2024 New Jersey Devils and the National Hockey League. All Rights Reserved.
NewJerseyDevils.com is the official web site of the New Jersey Devils, a member team of the National Hockey League (“NHL”). NHL, the NHL Shield, the word mark and image of the Stanley Cup and NHL Conference logos are registered trademarks of the National Hockey League. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Copyright © 1999-2024 New Jersey Devils and the National Hockey League. All Rights Reserved.
Today, more than 100 elected officials at the county and local levels from across New Jersey’s 11th Congressional District announced their endorsement of Mikie Sherrill for Governor of New Jersey. These leaders, from across Essex, Morris, and Passaic Counties, collectively released the following statement in support of Mikie Sherrill:
“For Mikie Sherrill, there’s no challenge too big and no problem too small. That’s why we’re thrilled to support her run for Governor of New Jersey.
“We represent communities across New Jersey’s 11th District, and we’ve had the privilege of working alongside Mikie Sherrill since as early as 2017. We’ve seen firsthand how she’ll never back down from a challenge, and how she’s willing to work with anyone, Democrat or Republican, to get things done for New Jerseyans. In times of crisis, she’s a leader – she makes tough decisions and she delivers.
“After Trump was elected in 2016, New Jersey needed real leadership, and Mikie Sherrill stepped up. In the three election cycles since, Mikie Sherrill has paved the way for strong Democratic leadership focused on results in every corner of the district. She’s helped elect Democratic mayors and council members – even in areas once taken for granted by the Republican Party. She listens to neighbors and community members, takes their concerns to heart, and will never back down when it comes to serving our state.
“Take, for example, the Gateway Tunnel. Mikie ran her first campaign on a vow to build the Gateway Tunnel, and, after years of broken promises, we were skeptical. Yet, she did just that – leading the fight to fund the Gateway Tunnel and secure a federal cost-sharing agreement that will allow us to get the project done without raising state or local taxes on families. And Mikie didn’t stop there – she continues to be a fearless advocate when it comes to holding New Jersey Transit and Amtrak accountable for the ‘summers of hell’ we’ve experienced year after year. She knows what it’s like for parents not to know if they will be able to make it back in time to pick up their children from daycare, or to be able to coach their kids’ soccer team.
“That’s just one of the big issues Mikie has tackled during her time in Congress, but we also know that she cares deeply about making life easier for our residents and cutting through the bureaucratic red tape that frustrates all of us. Mikie and her team are always a phone call or a text away. When our residents come to us needing help, we often tell them to reach out to Mikie and her staff. From ensuring local veterans get all of their health care benefits, to helping our seniors navigate Medicare or Social Security, to making sure the IRS gives you back every dollar you’re owed, Mikie will stop at nothing to ensure that every New Jerseyan who needs help gets it.
“Time and again, we’ve seen Mikie – a lifelong public servant – step up to make life easier for New Jersey families. As Governor, we know she’ll do exactly that, and we’re excited to support her every step of the way.”
Sincerely,
Essex County Executive Joseph N. DiVincenzo, Jr.
Essex County Clerk Christopher J. Durkin
Essex County Sheriff-elect Amir Jones
Essex County Register Juan Rivera, Jr.
Essex County Commissioner President Carlos M. Pomares
Essex County Commissioner Vice President Tyshammie L. Cooper
Essex County Commissioner At-Large Patricia Sebold
Essex County Commissioner At-Large Romaine Graham
Essex County Commissioner At-Large Brendan W. Gill
Essex County Commissioner At-Large Wayne L. Richardson
Essex County Commissioner District 1 Robert Mercado
Essex County Commissioner District 4 Leonard M. Luciano
Passaic County Clerk Danielle Ireland-Imhof
Passaic County Sheriff-elect Thomas Adamo
Passaic County Commissioner Orlando Cruz
Passaic County Commissioner Bruce James
Passaic County Commissioner Pasquale “Pat” Lepore
Passaic County Commissioner-elect Rodney De Vore
Bloomfield Mayor Jenny Mundell
Bloomfield Councilwoman At-Large Monica Tabares
Bloomfield Councilwoman Third Ward Sarah Cruz
Glen Ridge Mayor Deborah Mans
Glen Ridge Councilor Ann Marie Morrow
Glen Ridge Councilor Rich Law
Glen Ridge Councilor Peter A. Hughes
Glen Ridge Councilor LoriJeane Moody
Glen Ridge Councilor David Lefkovitz
Glen Ridge Councilor Rebecca Meyer
Livingston Council Member Shawn Klein
Livingston Council Member Michael Vieira
Livingston Council Member Ketan Bhuptani
Maplewood Mayor Nancy Adams
Maplewood Deputy Mayor Jamaine Cripe
Maplewood Committeeperson Dean Dafis
Maplewood Committeeperson Victor De Luca
Maplewood Committeewoman-elect Malia Herman
Millburn Mayor Annette Romano
Millburn Committeeman Michael Cohen
Montclair Deputy Mayor Susan Shin Andersen
Montclair Third Ward Councilor Rahum Williams
Nutley Commissioner Thomas J. Evans
Roseland Mayor James R. Spango
Roseland Council President Christopher Bardi
Roseland Councilman John Biront
Roseland Councilwoman Eileen Fishman
Roseland Councilman Neal Goldstein
Roseland Councilman Marcelino “Moose” Trillo
Boonton Ward 2 Council Member Jacob Hettrich
Boonton Ward 2 Council Member Marie Devenezia
Chatham Borough Mayor Carolyn Dempsey
Chatham Borough Council President Jocelyn Mathiasen
Chatham Borough Council Member Justin Strickland
Chatham Borough Council Member Karen Koronkiewicz
Chatham Borough Council Member Brian Hargrove
Chatham Borough Council Member Irene Treloar
Chatham Borough Council Member Katherine Hay
Chatham Township Mayor Stacey Ewald
Chatham Township Deputy Mayor Michael Choi
Chatham Township Committeeperson Jen Rowland
Chatham Township Committeeperson Marty McHugh
Dover Mayor Mayor James P. Dodd
Dover First Ward Council Member Claudia P. Toro
Dover First Ward Council Member Sandra Wittner
Dover Second Ward Council Member Geovani Estacio
Dover Third Ward Council Member Michael Scarneo
Dover Third Ward Council Member Karol Ruiz
Dover Fourth Ward Council Member Arturo Santana
Dover Fourth Ward Council Member Marcos Tapia
Lincoln Park Ward III Councilman Patrick Antonetti
Madison Mayor Robert H. Conley
Madison Council President Eric Range
Madison Council Member Rachel Ehrlich
Madison Council Member Robert E. Landrigan
Madison Council Member Tom Haralampoudis
Madison Council Member Melissa Honohan
Madison Council Member John Forte
Mendham Township Deputy Mayor Lauren Spirig
Morris Plains Mayor Jason Karr
Morris Plains Council President Nancy Verga
Morris Plains Councilmember Joan Goddard
Morris Township Mayor Donna J. Guariglia
Morris Township Deputy Mayor Jeffery R. Grayzel
Morris Township Committeeman Mark J. Gyorfy
Morris Township Committeeman William “Bud” Ravitz
Morris Township Committeeman Siva S. Jonnada
Mountain Lakes Mayor Khizar Sheikh
Mountain Lakes Deputy Mayor Lauren Barnett
Mountain Lakes Councilmember Chris Cannon
Mountain Lakes Councilmember Cynthia Korman
Mountain Lakes Councilmember Tom Menard
Mountain Lakes Councilmember Melissa Muilenburg
Parsippany Councilwoman Judy Hernandez
Rockaway Township Ward 4 Councilman Jonathan Sackett
Rockaway Township Ward 5 Councilman Emanuel “Manny” Friedlander
Little Falls Mayor James Damiano
Little Falls Council President Anthony Sgobba
Little Falls Councilman Christopher Vancheri
Little Falls Councilwoman Christine Hablitz
Wayne Ward 5 Councilwoman Francine Ritter
Woodland Park Mayor Tracy Kallert
Woodland Park Council President Vincent DeCesare
Woodland Park Councilwoman Tina Gatti
Woodland Park Councilwoman Christine Tiseo
Woodland Park Councilman Michael Sica
Woodland Park Councilman Adam Chaabane
Woodland Park Councilman Luis Torres
###
(Visited 87 times, 90 visits today)
Max Verstappen wins 4th straight F1 world championship as George Russell wins Las Vegas Grand Prix
Free email services are costing you more than you think
Dishwasher getting old? With Trump vowing tariffs, it might make sense to shop for new appliances now
From Billie Eilish to Metallica: 10 must-see concerts this holiday season
Robert Vito Won't Be Charged With Felony in L.A. Domestic Violence Case
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Why Marjorie Taylor Greene was ‘kicked out’ of the Freedom Caucus according to Rep. Buck
Death of missing Oregon girl found in stream ruled homicide
‘Optical illusion’: Key takeaways from COP29
With talks teetering, climate negotiators struck a controversial $300 billion deal
Trump administration takes shape: President-elect completes top 15 Cabinet picks
Thousands march across Europe protesting violence against women
Fred Harris, former Democratic U.S. senator and presidential candidate, dies at 94
-
Business1 week agoColumn: Molly White's message for journalists going freelance — be ready for the pitfalls
-
Science4 days agoTrump nominates Dr. Oz to head Medicare and Medicaid and help take on 'illness industrial complex'
-
Politics6 days agoTrump taps FCC member Brendan Carr to lead agency: 'Warrior for Free Speech'
-
/cdn.vox-cdn.com/uploads/chorus_asset/file/25739950/247386_Elon_Musk_Open_AI_CVirginia.jpg "Inside Elon Musk’s messy breakup with OpenAI")
Technology6 days agoInside Elon Musk’s messy breakup with OpenAI
-
Lifestyle7 days agoSome in the U.S. farm industry are alarmed by Trump's embrace of RFK Jr. and tariffs
-
World6 days agoProtesters in Slovakia rally against Robert Fico’s populist government
-
News6 days agoThey disagree about a lot, but these singers figure out how to stay in harmony
-
News6 days agoGaetz-gate: Navigating the President-elect's most baffling Cabinet pick