Our panel of public policy experts will analyze elements of Governor Murphy’s proposed budget for New Jersey’s abbreviated 2020/21 fiscal year.
Due to the coronavirus pandemic, New Jersey’s 2019/20 fiscal year was extended for three months to Sept. 30, 2020. On Aug. 25, Governor Phil Murphy issued his proposed budget for the abbreviated 2020/21 fiscal year. This budget covers Oct. 1, 2020, through June 30, 2021. Among other things, the budget includes:
- $4 billion in borrowing
- $1.25 billion in cuts and savings
- $1 billion in tax increases, including an expansion of the top individual tax rate to those earning more than $1 million and restoration of the 2.5-percent CBT surtax
Join as as Richard Keevey and Dale Florio — who helped us analyze the Governor’s original budget proposal back in March just as the pandemic was ramping up — take in-depth look at the budget and its political prospects.