Governor Announces Budget

In the first budget plan of her administration, Governor Mikie Sherrill suggested that New Jersey spend a record $60.7 billion. This was supported, among other things, by the elimination of legislative expenditure additions and reductions to a property tax relief program supported by the Assembly speaker.Sherrill called for the state to spend almost $1.7 billion more than it takes in through taxes and fees in her first annual budget address to a joint Legislature on Tuesday. This is a slight decrease from the structural deficit in the current fiscal year, but she mostly avoided new and expensive programs that would increase the state’s expenses.