Politics
Gov. Murphy $55.9B budget features spending hikes, new business taxes
- Democratic New Jersey Gov. Phil Murphy unveiled Tuesday his proposal for a $55.9 billion state budget.
- Among its key agenda items are nearly $1 billion more in public education spending
- “Our budget will ensure New Jersey retains its proud reputation as the best place anywhere to raise a family,” Murphy said of the proposal.
New Jersey Gov. Phil Murphy on Tuesday unveiled a $55.9 billion budget, up about 5% over his previous year’s proposal, calling for nearly $1 billion more in K-12 school funding as well as about $1 billion in new taxes on high-earning businesses to fund transit.
Murphy, a two-term Democrat, cast the budget as the fulfillment of campaign pledges to identify a recurring source of funding for New Jersey Transit and to fully finance a state formula for schools that’s never before been fully implemented.
“Our budget will ensure New Jersey retains its proud reputation as the best place anywhere to raise a family,” he said.
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The governor’s seventh budget comes amid declining revenues in the current fiscal year, something Murphy attributes to a hangover from 2022. The budget proposes drawing down the state’s surplus of about $8 billion to more than $6 billion to help close the gap.
Murphy campaigned in 2017 on fully funding a school aid formula, which the state supreme court ratified in 2009 and that never was fully implemented. The proposal calls for increasing aid from nearly $10.8 billion to $11.7 billion, but Murphy also stressed the incremental increase of school funding since he took office. Aid had been largely flat at $8 billion annually throughout much of Republican Chris Christie’s two terms.
The governor casts increased school aid as both a boon for schools and students and as an important factor in reducing pressure on local property taxes — the lion’s share of which go to schools. More state aid for education means towns can keep property taxes down, the argument does.
New Jersey Gov. Phil Murphy speaks to reporters after signing a bill in Paulsboro, N.J., Thursday, July 6, 2023. (AP Photo/Wayne Parry, File)
The budget also takes aim at another campaign promise Murphy had made: setting up a funding source for the state’s often beleaguered transit system. The system has regularly had to use capital funds just to keep up operations, limiting resources for system-wide improvements. To help close the gap Murphy is proposing a 2.5% tax on business profits of companies that netting more than $10 million annually.
The proposal comes after a temporary business tax increase ended at the end of last year. That surcharge affected some 3,100 businesses, according to the administration, while the new proposal would levy taxes from about 600 firms. Murphy said small and medium sized businesses would not be impacted.
Business leaders decried the increase, arguing the governor essentially went back on a commitment to keep the corporate tax rate down.
“When you make promises that drive investment, and then renege on them a few weeks later, it goes well beyond creating terrible policy,” said Michele Siekerka, president of the New Jersey Business and Industry Association.
Advocates for groups representing workers who use transit said the increased taxes were necessary.
“Governor Murphy’s move to reinstate a partial corporate business tax to fund NJTransit is an important step to make the wealthiest corporations — now reaping record profits — pay their part to keep our state afloat,” said Sara Cullinane, the director of Make the Road NJ, an immigrants rights advocacy group.
The state’s budget has grown significantly since Christie left office after signing a $34.7 billion spending plan. The state takes in income, sales and business taxes to fund a mix of programs and services, including state government itself but also education and health care funding.
Murphy is also proposing to continue a property tax relief plan first initiated in 2022 that doled out up to $1,500 in tax rebates to families that make up to $150,000, as well as aid for renters. As initially envisioned the program helped under a million households. The new budget would increase the benefit to 1.3 million households, Murphy said, though it’s not clear exactly how.
The budget isn’t final and must first pass through the Democrat-led Legislature, which has until June 30 to pass a spending plan to Murphy.
Politics
Where Iran’s ballistic missiles can reach — and how close they are to the US
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President Donald Trump warned that Iran is working to build missiles that could “soon reach the United States of America,” elevating concerns about a weapons program that already places U.S. forces across the Middle East within range.
Iran does not currently possess a missile capable of striking the U.S. homeland, officials say. But its existing ballistic missile arsenal can target major American military installations in the Gulf, and U.S. officials say the issue has emerged as a key sticking point in ongoing nuclear negotiations.
Here’s what Iran can hit now — and how close it is to reaching the U.S.
What Iran can hit right now
A map shows what is within range of ballistic missiles fired from Iran. (Fox News)
Iran is widely assessed by Western defense analysts to operate the largest ballistic missile force in the Middle East. Its arsenal consists primarily of short- and medium-range ballistic missiles with ranges of up to roughly 2,000 kilometers — about 1,200 miles.
That range places a broad network of U.S. military infrastructure across the Gulf within reach.
Among the installations inside that envelope:
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- Al Udeid Air Base in Qatar, forward headquarters for U.S. Central Command.
- Naval Support Activity Bahrain, home to the U.S. 5th Fleet.
- Camp Arifjan in Kuwait, a major Army logistics and command hub.
- Ali Al Salem Air Base in Kuwait, used by U.S. Air Force units.
- Prince Sultan Air Base in Saudi Arabia.
- Al Dhafra Air Base in the United Arab Emirates.
- Muwaffaq Salti Air Base in Jordan, which hosts U.S. aircraft.
U.S. forces have drawn down from some regional positions in recent months, including the transfer of Al Asad Air Base in Iraq back to Iraqi control earlier in 2026. But major Gulf installations remain within the range envelope of Iran’s current missile inventory.
Israel’s air defense targets Iranian missiles in the sky of Tel Aviv in Israel, June 16, 2025. (MATAN GOLAN/Middle East Images/AFP via Getty Images)
Multiple U.S. officials told Fox News that staffing at the Navy’s 5th Fleet headquarters in Bahrain has been reduced to “mission critical” levels amid heightened tensions. A separate U.S. official disputed that characterization, saying no ordered departure of personnel or dependents has been issued.
At the same time, the U.S. has surged significant naval and air assets into and around the region in recent days.
The USS Abraham Lincoln Carrier Strike Group is operating in the Arabian Sea alongside multiple destroyers, while additional destroyers are positioned in the eastern Mediterranean, Red Sea and Persian Gulf.
The USS Gerald R. Ford Carrier Strike Group is also headed toward the region. U.S. Air Force fighter aircraft — including F-15s, F-16s, F-35s and A-10s — are based across Jordan, Saudi Arabia and Bahrain, supported by aerial refueling tankers, early warning aircraft and surveillance platforms, according to a recent Fox News military briefing.
Iran has demonstrated its willingness to use ballistic missiles against U.S. targets before.
In January 2020, following the U.S. strike that killed Islamic Revolutionary Guard Corps Gen. Qassem Soleimani, Iran launched more than a dozen ballistic missiles at U.S. positions in Iraq. Dozens of American service members were later diagnosed with traumatic brain injuries.
That episode underscored the vulnerability of forward-deployed forces within reach of Iran’s missile arsenal.
Can Iran reach Europe?
Most publicly known Iranian missile systems are assessed to have maximum ranges of around 2,000 kilometers.
Depending on launch location, that could place parts of southeastern Europe — including Greece, Bulgaria and Romania — within potential reach. The U.S. has some 80,000 troops stationed across Europe, including in all three of these countries.
Iran is widely assessed by Western defense analysts to operate the largest ballistic missile force in the Middle East. (Majid Saeedi/Getty Images)
Reaching deeper into Europe would require longer-range systems than Iran has publicly demonstrated as operational.
Can Iran hit the US?
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Iran does not currently field an intercontinental ballistic missile (ICBM) capable of striking the U.S. homeland.
To reach the U.S. East Coast, a missile would need a range of roughly 10,000 kilometers — far beyond Iran’s known operational capability.
However, U.S. intelligence agencies have warned that Iran’s space launch vehicle program could provide the technological foundation for a future long-range missile.
In a recent threat overview, the Defense Intelligence Agency stated that Iran “has space launch vehicles it could use to develop a militarily-viable ICBM by 2035 should Tehran decide to pursue the capability.”
That assessment places any potential Iranian intercontinental missile capability roughly a decade away — and contingent on a political decision by Tehran.
U.S. officials and defense analysts have pointed in particular to Iran’s recent space launches, including rockets such as the Zuljanah, which use solid-fuel propulsion. Solid-fuel motors can be stored and launched more quickly than liquid-fueled rockets — a feature that is also important for military ballistic missiles.
Space launch vehicles and long-range ballistic missiles rely on similar multi-stage rocket technology. Analysts say advances in Iran’s space program could shorten the pathway to an intercontinental-range missile if Tehran chose to adapt that technology for military use.
For now, however, Iran has not deployed an operational ICBM, and the U.S. homeland remains outside the reach of its current ballistic missile arsenal.
US missile defenses — capable but finite
The U.S. relies on layered missile defense systems — including Terminal High Altitude Area Defense (THAAD), Patriot and ship-based interceptors — to protect forces and allies from ballistic missile threats across the Middle East.
These systems are technically capable, but interceptor inventories are finite.
During the June 2025 Iran-Israel missile exchange, U.S. forces reportedly fired more than 150 THAAD interceptors — roughly a quarter of the total the Pentagon had funded to date, according to defense analysts.
The economics also highlight the imbalance: open-source estimates suggest Iranian short-range ballistic missiles can cost in the low hundreds of thousands of dollars apiece, while advanced U.S. interceptors such as THAAD run roughly $12 million or more per missile.
Precise inventory levels are classified. But experts who track Pentagon procurement data warn that replenishing advanced interceptors can take years, meaning a prolonged, high-intensity missile exchange could strain stockpiles even if U.S. defenses remain effective.
Missile program complicates negotiations
The ballistic missile issue has also emerged as a key fault line in ongoing diplomatic efforts between Washington and Tehran.
Secretary of State Marco Rubio has said Iran’s refusal to negotiate limits on its ballistic missile program is “a big problem,” signaling that the administration views the arsenal as central to long-term regional security.
While current negotiations are focused primarily on Iran’s nuclear program and uranium enrichment activities, U.S. officials have argued that delivery systems — including ballistic missiles — cannot be separated from concerns about a potential nuclear weapon.
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Iranian officials, however, have insisted their missile program is defensive in nature and not subject to negotiation as part of nuclear-focused talks.
As diplomacy continues, the strategic reality remains clear: Iran cannot currently strike the U.S. homeland with a ballistic missile. But U.S. forces across the Middle East remain within range of Tehran’s existing arsenal — and future capabilities remain a subject of intelligence concern.
Politics
Contributor: The last shreds of our shared American culture are being politicized
At a time when so many forces seem to be dividing us as a nation, it is tragic that President Trump seeks to co-opt or destroy whatever remaining threads unite us.
I refer, of course, to the U.S. men’s Olympic hockey team winning gold: the kind of victory that normally causes Americans to forget their differences and instead focus on something wholesome, like chanting “USA” while mispronouncing the names of the European players we defeated before taking on Canada.
This should have been pure civic oxygen. Instead, we got video of Kash Patel pounding beers with the players — which is not illegal, but does make you wonder whether the head of the Federal Bureau of Investigation has a desk somewhere with neglected paperwork that might hold the answers to the D.B. Cooper mystery.
Then came the presidential phone call to the men’s team, during which Trump joked about having to invite the women’s team to the State of the Union, too, or risk impeachment — the sort of sexist humor that lands best if you’re a 79-year-old billionaire and not a 23-year-old athlete wondering whether C-SPAN is recording. (The U.S. women’s hockey team also brought home the gold this year, also after beating Canada. The White House invited the women to the State of the Union, and they declined.)
It’s hard to blame the players on the men’s team who were subjected to Trump’s joke. They didn’t invite this. They’re not Muhammad Ali taking a principled stand against Vietnam, or Tommie Smith and John Carlos raising fists for Black power at the Olympics in 1968, or even Colin Kaepernick protesting police brutality by kneeling during the national anthem. They’re just hockey bros who survived a brutal game and were suddenly confronted with two of the most powerful figures in the federal government — and a cooler full of beer.
When the FBI director wants to hang, you don’t say, “Sorry, sir, we have a team curfew.” And when the president calls, you definitely don’t say, “Can you hold? We’re trying to remain serious, bipartisan and chivalrous.” Under those circumstances, most agreeable young men would salute, smile and try to skate past it.
But symbolism matters. If the team becomes perceived as a partisan mascot, then the victory stops belonging to the country and starts belonging to a faction. That would be bad for everyone, including the team, because politics is the fastest way to turn something fun into something divisive.
And Trump’s meddling with the medal winners didn’t end after his call. It continued during Tuesday night’s State of the Union address, when Trump spent six minutes honoring the team, going so far as to announce that he would award the Presidential Medal of Freedom to goalie Connor Hellebuyck.
To be sure, presidents have always tried to bask in reflected glory. The main difference with Trump, as always, is scale. He doesn’t just associate himself with popular institutions; he absorbs them in the popular mind.
We’ve seen this dynamic play out with evangelical Christianity, law enforcement, the nation of Israel and various cultural symbols. Once something gets labeled as “Trump-adjacent,” millions of Americans are drawn to it. However, millions of other Americans recoil from it, which is not healthy for institutions that are supposed to serve everyone. (And what happens to those institutions when Trump is replaced by someone from the opposing party?)
Meanwhile, our culture keeps splitting into niche markets. Heck, this year’s Super Bowl necessitated two separate halftime shows to accommodate our divided political and cultural worldviews. In the past, this would have been deemed both unnecessary and logistically impossible.
But today, absent a common culture, entertainment companies micro-target via demographics. Many shows code either right or left — rural or urban. The success of the western drama “Yellowstone,” which spawned imitators such as “Ransom Canyon” on Netflix, demonstrates the success of appealing to MAGA-leaning viewers. Meanwhile, most “prestige” TV shows skew leftward. The same cultural divides now exist among comedians and musicians and in almost every aspect of American life.
None of this was caused by Trump — technology (cable news, the internet, the iPhone) made narrowcasting possible — but he weaponized it for politics. And whereas most modern politicians tried to build broad majorities the way broadcast TV once chased ratings — by offending as few people as possible — Trump came not to bring peace but division.
Now, unity isn’t automatically virtuous. North Korea is unified. So is a cult. Americans are supposed to disagree — it’s practically written into the Constitution. Disagreement is baked into our national identity like free speech and complaining about taxes.
But a functioning republic needs a few shared experiences that aren’t immediately sorted into red and blue bins. And when Olympic gold medals get drafted into the culture wars, that’s when you know we’re running out of common ground.
You might think conservatives — traditionally worried about social cohesion and anomie — would lament this erosion of a mainstream national identity. Instead, they keep supporting the political equivalent of a lawn mower aimed at the delicate fabric of our nation.
So here we are. The state of the union is divided. But how long can a house divided against itself stand?
We are, as they say, skating on thin ice.
Matt K. Lewis is the author of “Filthy Rich Politicians” and “Too Dumb to Fail.”
Politics
Video: Hillary Clinton Denies Ever Meeting Jeffrey Epstein
new video loaded: Hillary Clinton Denies Ever Meeting Jeffrey Epstein
transcript
transcript
Hillary Clinton Denies Ever Meeting Jeffrey Epstein
The former first lady, senator and secretary of state, Hillary Clinton, told congressional members in a closed-door deposition that she had no dealings with Jeffrey Epstein.
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“I don’t know how many times I had to say I did not know Jeffrey Epstein. I never went to his island. I never went to his homes. I never went to his offices. So it’s on the record numerous times.” “This isn’t a partisan witch hunt. To my knowledge, the Clintons haven’t answered very many questions about everything.” “You’re sitting through an incredibly unserious clown show of a deposition, where members of Congress and the Republican Party are more concerned about getting their photo op of Secretary Clinton than actually getting to the truth and holding anyone accountable.” “What is not acceptable is Oversight Republicans breaking their own committee rules that they established with the secretary and her team.” “As we had agreed upon rules based on the fact that it was going to be a closed hearing at their demand, and one of the members violated that rule, which was very upsetting because it suggested that they might violate other of our agreements.”
By Jackeline Luna
February 26, 2026
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