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Jul 4, 2017 · 2:40 a.m. New Jersey Republican Gov. Chris Christie has ended a three-day state government shutdown and signed a $34.7 billion budget along with legislation to overhaul the state’s largest health insurer. Christie signed the legislation early on Independence Day after a deal was announced on Monday with Democratic leaders of the Legislature.
Feb 24, 2015 · TRENTON, N.J. — Gov. Chris Christie on Tuesday proposed a $33.8 billion state budget for the fiscal year that starts July 1, including no tax increases and flat spending for key items...
- Spending Is Up by How Much?
- Where Has The Money Come from?
- Where Has Spending increased?
- What About State Debt?
- Budget Reserves?
The budget for the 2022 fiscal year increases year-over-year spending by roughly $6 billion. Helping to support that big increase was an unexpected tax windfall that left the state flush with cash at the end of June. A big borrowing issue that lawmakers approved last year after the Murphy administration projected the pandemic would trigger huge rev...
Total revenues have increased by more than 20% since the beginning of the 2018 fiscal year, according to Department of Treasury budget documents. Proceeds from the state income tax — which is the budget’s largest source of revenue — were up more than $3 billion through the end of the 2021 fiscal year, according to the documents. That comes after Mu...
On the spending side of the ledger, one area that’s seen a huge increase in funding is the state’s contributions into New Jersey’s long neglected public-worker pension system. By contrast, in Christie’s last budget the pension contribution was $2.5 billion, or just half of what actuaries would have considered to be a full payment that year. During ...
Treasury’s latest annual report on borrowing issued earlier this year indicated the state’s total for bonded debt was just over $44 billion at the end of the 2020 fiscal year, up nearly 14% from a decade ago. That borrowing issue has left taxpayers funding principal and interest payments into the 2030s because the so-called COVID-19 bonds were stru...
Murphy inherited budget reserves of about $600 million from Christie, while the new budget for the 2022 fiscal year calls for a closing surplus of $2.356 billion. To be sure, the overall budget is now much bigger than it was when Christie was in office, but today’s budget reserves also equal a larger percentage of planned spending. That should leav...
- John Reitmeyer
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Feb 17, 2016 · February 16, 2016 / 7:55 PM EST / CBS New York. TRENTON, N.J. (CBSNewYork/AP) -- Gov. Chris Christie, back in New Jersey after ending his Republican presidential bid, proposed a $34.8 billion...
Jul 4, 2017 · By MICHAEL CATALINI Associated Press. A budget impasse that shuttered government and state parks and beaches for three days ended on the Fourth of July when Republican Gov. Chris Christie...
On NJ 101.5's "Ask the Governor" program, hosted by Eric Scott, Gov. Chris Christie discusses the state budget process and whether or not certain reforms wil...
Jul 27, 2015 · Gov. Chris Christie’s claim that he closed an $11 billion budget deficit in New Jersey shortly after taking office in 2010 has become a key feature of his presidential-campaign message as he stumps for votes in states like Iowa and New Hampshire. But new budget estimates obtained by NJ Spotlight show a far more modest result when the makeup ...
