N.J. Finalizes Record $58B Budget that Has Surprises, Giveaways and Property Tax Relief

N.J. finalizes record $58B budget that has surprises, giveaways and property-tax relief

The new spending plan will mean higher taxes on gambling, smoking, and high-end real estate sales in New Jersey.

N.J. finalizes record $58B budget that has surprises, giveaways and property tax relief

With the clock counting down to the new fiscal year that begins Tuesday, lawmakers passed a record state budget early Monday evening that now awaits Gov. Phil Murphy’s signature.

NJ state budget for 2026 approved, moves forward for Gov. Phil Murphy's signature

New Jersey lawmakers must adopt a 2026 fiscal year budget and Gov. Phil Murphy must sign the plan by 11:59 p.m. June 30.

N.J. budget resolution from Mukherji restores $4M cuts from Jersey City BOE - Hudson County View

A New Jersey budget resolution introduced by state Senator Raj Mukherji (D-32) restored the $4 million in cuts from the Jersey City Board of Education that were announced in February. By John Heinis/Hudson County View “For both years that I have had the privilege of representing Jersey City in the State Senate, I’ve secured zero […] The post N.J. budget resolution from Mukherji restores $4M cuts from Jersey City BOE appeared first on Hudson Coun…

Gov. Murphy signs $58.78B state budget - WRNJ Radio

TRENTON, N.J. — Governor Phil Murphy on Monday signed the $58.78 billion Fiscal Year 2026 Appropriations Act into law, marking the culmination of his administration’s nearly eight-year focus on fiscal responsibility, affordability, and long-term investment in New Jersey residents. The budget, passed by the Legislature earlier in the day, allocates more than 75 percent of total funds back into communities through property tax relief, school aid, …

N.J. state budget awaits governor's signature ahead of deadline

The last state budget under Gov. Phil Murphy awaits a final vote from lawmakers after both parties tweaked the measure’s language ahead of a June 30 deadline. Budget committees voted on the bill at 8 p.m. June 27, setting up a full Assembly and Senate vote Monday. After that, the governor would need to sign the bill by midnight to avoid a government shutdown. With Democrats holding a majority in both chambers, adoption of the fiscal 2026 budget …